In 1977 Philippine dictator Marcos buys back Robert Mosbacher's oil concession. Mosbacher claims he was swindled. Philippine officials say they never saw any expenditures by Mosbacher on the project.

In 1978 Bush, Mosbacher and JIM BAKER become partners in an oil deal.

From a Washington Post article by Bob Woodward and Walter Pincus: "According to those involved in Bush's first political action committee, there were several occasions in 1978-79, when Bush was living in Houston and traveling the country in his first run for the presidency, that he set aside periods of up to 24 hours and told aides that he had to fly to Washington for a secret meeting of former CIA directors.                                               

Bush told his aides that he could not divulge his whereabouts, and that he would not be available." Former CIA chief Stansfield Turner denies such meetings took place. Many believe these “meetings” were excuses for a romantic rendezvous, probably with Jennifer Fitzgerald. George W. Bush declares his candidacy for the Midland Congressional district. He wins the Republican primary and loses in the general election.

George W. Bush begins operations of his oil firm, ARBUSTO Energy. With the help of Jonathan Bush, he assembles several dozen investors in a limited partnership including Dorothy Bush, Lewis Lehrman, William Draper, and James Bath, a Houston aircraft broker associated with the bin Laden family of Saudi Arabia. Osama bin Laden will go on to become one of the worst terrorists of the 1990’s. Arbusto Energy will be near bankruptcy before being rescued by friends of Poppy.