Oliver Barr McClellan, entrepreneur, counsel and author, born in 1939 in Cuero (aka Rawhide), Texas, became widely known by his 2003 book Blood, Money Power on the Kennedy assassination. He has also written on globalization.
McClellan published Blood, Money Power: How LBJ Killed JFK, which became a best-seller in November 2003. In the book, McClellan presents the theory that Lyndon B. Johnson and Austin attorney Edward A. Clark were involved in the planning and cover-up of the Kennedy assassination. McClellan also names Malcolm Mac Wallace as one of the assassins. The book includes allegations surrounding the theft of the 1948 Senate election, an Austin murder by Wallace, and a belated grand jury action regarding Johnson in another murder by Wallace. The killing of Kennedy, McClellan alleges, was paid for by oil millionaires, including Clint Murchison, Sr. and H. L. Hunt. McClellan purports that Clark got 6 million for this work, including a 2 million bonus. McClellan notes the conspiracy background disclosed in the book shows how some power lawyers abuse the legal and political systems. Extensive citations are in the book. French journalist William Reymond published a book the same year in which he claims that Cliff Carter and Malcolm Wallace were key to helping plot the murder of JFK. McClellans book has been translated into Japanese. McClellan is completing the sequel to his first book, which purportedly will disclose what he alleges to be a continuing cover-up, as well as new insights into the Kennedy family.
After McClellan repeated his allegations against Johnson in the documentary The Men Who Killed Kennedy, broadcast on The History Channel on November 18, 2003, former presidents Gerald Ford and Jimmy Carter protested, and former LBJ staffers Bill Moyers and Jack Valenti asked The History Channel to investigate the charges. On April 2, 2004, after having three historians examine the charges, The History Channel issued a press release stating that the claim of LBJs complicity is entirely unfounded and does not hold up to scrutiny…. [The show] fell short of the high standards that the network sets for itself. The History Channel apologizes to its viewers and to Mrs. [Lady Bird] Johnson and her family for airing the show.
In addition to disclosing the many motivations for Johnson, McClellan states that the assassination of Kennedy allowed the oil depletion allowance to be kept at 27.5 percent. It remained unchanged during the Johnson presidency. According to McClellan this resulted in a saving of over 100 million dollars to the American oil industry. In 1970, during President Richard Nixons term, the oil depletion allowance dropped to 15 percent. It was not until the arrival of President Jimmy Carter that the oil depletion allowance was removed.
McClellan also wrote Made in the USA: Global Greed, Bad Tax Laws and The Exportation of Americas Future published in June 2010 by Hannover House. Taking a positive look at the greatest generations since 1945, McClellan notes Pax Americana was in place by 1990. He traces the subsequent collapse of the economy to government-induced programs for an unacceptable imbalance of trade, declining family income, unworkable mortgages, high prices at the pump, and collapsing billfolds forcing homeowners to walk away from their homes. Banks also collapsed and then the economy collapsed. This tragedy for individuals and families is not acceptable however, after two years, the economy has not recovered and jobs have not been available. Recommending initiatives to buy America with strong support for private enterprise, McClellan says open trade must replace free trade in the new paradigm of ten common markets. The budget and trade deficits will be corrected by encouraging American free enterprise. Extensive citations are in the book. Emphasizing the human side, the book shows the impact on individuals from economic policies.