Arbusto Energy was an oil and gas exploration firm started in 1977 by former U.S. president George W. Bush.
[1] In March 1979, the company began raising funds for oil exploration through private offerings.
In April 1982, Bush decided to begin offering public drilling partnerships, but had difficulty raising subscriptions.
[1] With little success in its drilling program, the company merged with Spectrum 7 Energy Corp. in February 1984, with Bush holding the positions of Chairman and CEO.
[4] Both Bath and Bush have denied this, and according to journalist Craig Unger, who examined the relationship between the Bushes and Saudi financiers in his 2004 book House of Bush, House of Saud, and journalist Steve Coll, whose book The Bin Ladens: An Arabian Family in the American Century examines the family's history, there is no evidence to support the claim.