American Petroleum Institute

  

They're the marketing arm for public relations in the oil industry in America. You could say that they grease the wheels among their 400+ corporate members, regulators, all kinds of other government people, consumers, environmental lobbies, and other potential road bumps in the petroleum-consuming long ride down Route 66 across America.

As an example, think about what they did to keep the BP oil spill from forcing regulation of the industry in 10,000 forms. They are the face-weaponry of the drillers.

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Finance: What is Money Laundering?2 Views

00:00

Finance allah shmoop what is money laundering Whoa whoa whoa

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This guy needs to be taxed and legitimized And after

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taxing he gets out of the wash and has shrunk

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to a ten dollar bill But at least he can

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go out in public now Ok Ok So that's not

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sort of money laundering The government's worried about money laundering

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means trying to hide money you make illegally by setting

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up fake businesses running the money through those businesses as

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if while they're actually legitimate riel things real sales happen

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And then to continue the money laundering story you show

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some profits on those businesses for which yes you then

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get taxed But then the money is quote legitimized unquote

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in the eyes of the government so that you can

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freely spend it on clothes and jewelry And you know

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maserati's that go one eighty five The idea is that

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you create fake companies when you launder money fake accounts

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fake customers So it looks like the money is coming

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from a legal normal business when it's really coming from

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shady deals like a drug dealing and stuff like that

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for better or worse the movie theater business was a

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key tool in laundering money for the mob in the

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early twentieth century and that a movie could be licensed

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from a studio for a fixed fee of say a

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hundred bucks a night and then magically even though the

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movie was eight years old and in black and white

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that movie theater sold out three shows a night every

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night for a month generating tens of thousands of dollars

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in revenues which would then launder bootlegging alcohol e kind

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of money back into the normal system so that the

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theater owner could pay for you know private school and

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orthodontia and all that stuff for his kids and leave

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a substantial tip for their surprisingly well dressed garbage collector

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And if you've seen breaking bad while you know that

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walter white mastered money laundering that carwash magically had huh

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Hundreds of cars go through it every day even though

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in reality it only had a few dozen but the

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government wasn't counting cars It had no idea how bigger

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little the carwash was and frankly it well didn't really

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care as long as it was able to tax the

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money coming in from walter's high octane blue meth so

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the lesson Money laundering is bad Walter white isn't a

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good role model and always remember to separate your lights 00:02:25.775 --> [endTime] and darks when washing a load

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