In the summer of 2005, John McCain's chief strategist Charlie Black, working for his firm Black, Kelly, Scruggs & Healey, was paid $60,000 to lobby the U.S. government on behalf of the Chinese oil conglomerate CNOOC. At the time, CNOOC was mounting an aggressive bid to buy Unocal, a California-based oil giant, and Black was tasked with churning up congressional support. But the bid ultimately fell through, in part because of objections over the China oil industry's ties to Iran, a country in which it had already invested tens of millions of dollars.
More Irony: Obama proposed the same sanctions and divestment in 2007 which McCain opposed
"We should privatize the sanctions against Iran by launching a worldwide divestment campaign," he said. "As more people, businesses, pension funds, and financial institutions across the world divest from companies doing business with Iran, the radical elite who run that country will become even more unpopular than they are already."
But, as demonstrated by the CNOOC anecdote, if choking off Tehran's economic lifeblood is McCain's goal, he could have personally started down that road years ago -- with his own advisers.
..In 2007, moreover, Obama sponsored an Iran divestment bill that he claimed "would educate investors and pressure foreign companies to reconsider doing business with Iran by requiring the U.S. government to publish - every six months - a list of companies that invest more than $20 million in Iran's energy sector."
It was Alabama Republican Richard Shelby who held up the measure in the Senate in what was described by the Israel paper Haarezt, as "a favor" for the Bush administration. Today, it is still on hold.
Amil gets it in his latest brilliant essay:
The “infidel” world has been complicit in the surge of Islamism through its mistakes, complacency, and greed.
“You can trust the capitalist to sell you the rope to hang him with,” proclaimed Nikita Krushchev, at the peak of his glory days. He was convinced that greed will blind the capitalists and will spell their doom.