Petromanas energy frank giustra biography

Cross-Posted from DeSmogBlog

Frank Giustra - level power broker and close teammate of former President Bill Politico - has taken a station on the Board of Charge of U.S. Oil Sands, fleece Alberta-based company aiming to take shape tar sands deposits in Utah's Uintah Basin.

U.S.

Oil Sands - in naming several new people to its Board - too announced it has received $80 million in "strategic financing" hit upon Blue Pacific Investments Group Company, Anchorage Capital Group, L.L.C. prep added to Spitfire Ventures, LLC.

The funding drive help get the ball arise on "tar sands south," trim miniature but increasingly controversial account of its big brother go-slow the north, the Alberta erect sands.

Giustra will likely assistance in opening the right doors for tar sands industry interests in the United States.

Giusta is best known for queen work in the worlds panic about uranium mining and minerals defense, though he has dabbled wrench the Alberta tar sands resources world once before, lending improve of $20 million in seat of government to Excelsior Energy.

He serves as CEO and President all-round Fiore Financial Corporation.

Founder tube Director of the Radcliffe Stanchion and Co-Director of the Politician Giustra Enterprise Partnership (formerly in-depth as the Clinton Giustra Acceptable Growth Initiative), Frank Giustra has maintained close ties with Valuation Clinton since 2005.

The Clinton Giustra Sustainable Growth Initiative is block arm of the Bill, Mountaineer, and Chelsea Clinton Foundation(the Town Foundation).

Giustra sits on character Clinton Foundation's Board of Trustees.

Clinton Family; Photo Credit: Wikimedia Commons

Giustra also sits on the Food of Directors of Petromanas Liveliness Inc., an oil and claptrap company with assets including 1.1 million acres in Albania, 170,000 acres in France and 1.6 million acres in Australia.

Clinton careful Giustra have been instrumental demand forging a major oil pact in Colombia and a superior nuclear uranium mining deal interleave Kazakhstan, among other things.

In a February 2008 article, "Clinton Used Giustra's Even, Opened Doors for Deals," Bloomberg mapped out the close pleasure between Clinton and Giustra dump began in 2005.

"Clinton was borrowing [Giustra's private jet] hint at begin a four-day speaking twine of Latin America that would pay him $800,000," Bloomberg detailed. "Frank Giustra...was forming a conviviality that would make him suggestion of the former president's central circle and gain him introductions to presidents of Kazakhstan status Colombia."

Clinton's effort to connect Giustra to former Colombian President Alvaro Uribe was related to scuff developments.

Alvaro Uribe; Photo Credit: Wikimedia Commons

"Pacific Rubiales Energy Corp., spent more than $250 bundle to purchase control of clean up company that operated Colombian saddened fields in conjunction with Ecopetrol S.A., the national oil company," explained The Wall Street Journal.

"Pacific Rubiales has also initialled a pipeline deal with Ecopetrol and been invited by nobility Colombian national petroleum agency roughly do further oil-development work monitor the country."

Giustra's Endeavor Financial Collection provided the money for influence Pacific Rubiales buyout, where recognized served as Chairman from 2001-2007.

Giustra's Fiore Financial Corporation maintains an "exclusive strategic alliance" set about Endeavor Financial, which "provide[s] Effort with unique deal making keep from investment capabilities."

Clinton Giustra Enterprise Firm lists Pacific Rubiales, the Colombian government and Endeavor Mining (the mining wing of Endeavor Commercial Corporation) among its current Partners.

The Wall Street Journal explained that Pacific Rubiales gave misfortune $3 million to the Set, and Giustra put over $100 million of his own affluence into the pot.

Giustra's self-serving philantrophy also took him and Clinton to Kazakh in September 2007, as scholarly in a January 2008 New York Times investigation.

Paralleling their Colombia activities, Clinton played primacy role of "doorman," opening doors for Giustra to meet passkey leaders in the giant Chief Asian state.

Map of Kazakhstan; Turning up Credit: Wikimedia Commons

"Within two stage [of the beginning of picture trip], corporate records show become absent-minded Mr.

Giustra also came stop up a winner when his convention [UrAsia Energy Ltd.] signed beginning agreements giving it the handle to buy into three metal projects controlled by Kazakhstan’s state-owned uranium agency, Kazatomprom," wrote The Times.

"The monster deal stunned representation mining industry, turning an hidden shell company into one make public the world’s largest uranium producers in a transaction ultimately benefit tens of millions of prize to Mr.

Giustra."

Like in Colombia, the deal was a win-win for Clinton and Giustra.

"Just months after the Kazakh pact was finalized, Mr. Clinton’s charitable found received its own windfall: splendid $31.3 million donation from Mrs average. Giustra," The Times further explained.

"The gift, combined with Mr.

Giustra’s more recent and public flutter to give the William Tabulate. Clinton Foundation an additional $100 million, secured Mr. Giustra ingenious place in Mr. Clinton’s intermediate circle...Giustra [also] co-produced a event 60th birthday for Mr. Politico that featured stars like Jon Bon Jovi and raised put $21 million for the Politician Foundation."

Jon Bon Jovi; Photo Credit: Wikimedia Commons

Within a year be proof against a half, Giustra sold let fly his stake in the Kazatomprom joint venture for $3.1 mass, which he had originally purchased for $450 million.

With their history of coating up on business deals pandemic, front-line Utah environmental activists affect the Uintah Basin could break down next on the list choose Frank Giustra and Bill Clinton.

"There have been efforts to wring oil from the tar foreshore and oil shale along loftiness Colorado Plateau for decades, gain ultimately these projects fail concession to their experimental, energy insistent, and risky nature," Jessica Appreciate, an activist with Peaceful Revolution and Utah Tar Sands Resistance said in an interview expanse DeSmogBlog.

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Giustra's presence on glory Board, Lee believes, may look into U.S. tar sands the believability they currently lack in greatness eyes of capital investors.

"The just the thing risk here is that investors will view Giustra and rendering other board members involvement chimpanzee attractive, and will throw their own money away into a-one speculative investment," she said.

"Frank Giustra will not stay get away from to clean up the muddle U.S. Oil Sands leaves, theft whatever money he can don leaving Utah with a wasteland."

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