Ray Lee Hunt
Encyclopedia
Ray Lee Hunt inherited most of father H.L. Hunt's Hunt Oil Co. along with his three sisters. In 1982, Forbes
magazine estimated Ray Hunt's family's total net worth to be $200 million. Ray made a huge oil find in Yemen in 1984. It took two years for Hunt, partnering with other companies, to lay a pipeline and build a refinery for the oil. In 2006 Forbes estimated that Ray’s family's net worth increased from $200 million to $4.6 billion. He is a graduate of Southern Methodist University
, Dallas, TX, where he was a member of the Phi Delta Theta
fraternity, and now serves on its Board of Trustees. Former owner of Southwest Media Corporation of Texas which D Magazine
of Dallas, Houston City Magazine
, Texas Homes and Sport Magazine.
He is a major backer of U.S. President George W. Bush
and a member of the President's Foreign Intelligence Advisory Board
.
In September 2007, Ray struck an oil deal with the Kurdistan Regional Government in the disputed territories of Ninewa near Dahuk governorate with an estimated value of $8 to $14.5 billion. The federal Iraqi Oil minister has denounced the deal as illegal, because under current Iraqi law only the central government is authorized to enter into contracts, though the Kurdistan Region believes it has a constitutional right to do so. The Kurds refuse to share details about the deal but insist that they will share profits. Likewise, Hunt Oil has refused to answer questions about the deal from US government officials who called for details when the deal became public. A U.S. Congressional committee concluded that George W. Bush administration
officials knew that Hunt oil was planning to sign the oil deal with the regional Kurdistan Regional Government that ran counter to American policy and undercut Iraq’s central government. The issue is still open and the State Department's Office of Inspector General is reviewing the issue.
In November 2009, native Peruvians under the coalition of the Native Federation of the Rio Madre de Dios, (FENAMAD), issued an eviction notice to Ray Hunt and the Hunt Oil Company from the Amarakaeri Reserve. In the letter FENAMAD wrote, "Having peacefully exhausted all protest, without receiving any answer, we hereby communicate to you that we have agreed to a fifteen-day period for you to definitively withdraw from the Amarakaeria Communal Reserve since you do not have the indigenous community's consent."
A Press Release issued by Amazon Watch stated that "The Reserve was first established in 2002 after years of indigenous petitioning to protect the rainforest area of the vast Madre de Dios and Karene watersheds and to provide protected zones for the Harakmbut indigenous peoples to live, fish, and hunt. The area in dispute, besides being a declared nature reserve, crosses the headwaters of several important river basins, and lies in the buffer zones of Manu and Bahuaja Sonene National Parks, two of the most biodiverse national parks in the world."
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine estimated Ray Hunt's family's total net worth to be $200 million. Ray made a huge oil find in Yemen in 1984. It took two years for Hunt, partnering with other companies, to lay a pipeline and build a refinery for the oil. In 2006 Forbes estimated that Ray’s family's net worth increased from $200 million to $4.6 billion. He is a graduate of Southern Methodist University
Southern Methodist University
Southern Methodist University is a private university in Dallas, Texas, United States. Founded in 1911 by the Methodist Episcopal Church, South, SMU operates campuses in Dallas, Plano, and Taos, New Mexico. SMU is owned by the South Central Jurisdiction of the United Methodist Church...
, Dallas, TX, where he was a member of the Phi Delta Theta
Phi Delta Theta
Phi Delta Theta , also known as Phi Delt, is an international fraternity founded at Miami University in 1848 and headquartered in Oxford, Ohio. Phi Delta Theta, Beta Theta Pi, and Sigma Chi form the Miami Triad. The fraternity has about 169 active chapters and colonies in over 43 U.S...
fraternity, and now serves on its Board of Trustees. Former owner of Southwest Media Corporation of Texas which D Magazine
D Magazine
This article is about the magazine about Dallas. For the Italian magazine, see La Repubblica.D Magazine is a monthly magazine covering Dallas-Fort Worth. It covers a range of topics including politics, business, food, fashion and lifestyle in the city of Dallas. The first issue was published in...
of Dallas, Houston City Magazine
Houston City Magazine
Houston City Magazine was launched in 1977 as In Houston City News Monthly and was published for 10 years. Founded by R. D. Walker, publisher and editor, and aided by key team members Ali Khan, Curtis Lang, and Jan Vanschuyver Walker, the first issue of 116 pages was successfully launched with a...
, Texas Homes and Sport Magazine.
He is a major backer of U.S. President George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
and a member of the President's Foreign Intelligence Advisory Board
President's Foreign Intelligence Advisory Board
The President's Intelligence Advisory Board is an advisor to the Executive Office of the President of the United States. According to its self-description, it "...provides advice to the President concerning the quality and adequacy of intelligence collection, of analysis and estimates, of...
.
In September 2007, Ray struck an oil deal with the Kurdistan Regional Government in the disputed territories of Ninewa near Dahuk governorate with an estimated value of $8 to $14.5 billion. The federal Iraqi Oil minister has denounced the deal as illegal, because under current Iraqi law only the central government is authorized to enter into contracts, though the Kurdistan Region believes it has a constitutional right to do so. The Kurds refuse to share details about the deal but insist that they will share profits. Likewise, Hunt Oil has refused to answer questions about the deal from US government officials who called for details when the deal became public. A U.S. Congressional committee concluded that George W. Bush administration
George W. Bush administration
The presidency of George W. Bush began on January 20, 2001, when he was inaugurated as the 43rd President of the United States of America. The oldest son of former president George H. W. Bush, George W...
officials knew that Hunt oil was planning to sign the oil deal with the regional Kurdistan Regional Government that ran counter to American policy and undercut Iraq’s central government. The issue is still open and the State Department's Office of Inspector General is reviewing the issue.
In November 2009, native Peruvians under the coalition of the Native Federation of the Rio Madre de Dios, (FENAMAD), issued an eviction notice to Ray Hunt and the Hunt Oil Company from the Amarakaeri Reserve. In the letter FENAMAD wrote, "Having peacefully exhausted all protest, without receiving any answer, we hereby communicate to you that we have agreed to a fifteen-day period for you to definitively withdraw from the Amarakaeria Communal Reserve since you do not have the indigenous community's consent."
A Press Release issued by Amazon Watch stated that "The Reserve was first established in 2002 after years of indigenous petitioning to protect the rainforest area of the vast Madre de Dios and Karene watersheds and to provide protected zones for the Harakmbut indigenous peoples to live, fish, and hunt. The area in dispute, besides being a declared nature reserve, crosses the headwaters of several important river basins, and lies in the buffer zones of Manu and Bahuaja Sonene National Parks, two of the most biodiverse national parks in the world."