Arbusto Energy was an oil and gas exploration company founded by George W. Bush in 1977 in Midland, Texas. The firm, whose name means 'bush' in Spanish, aimed to explore for oil in the Permian Basin but faced significant financial challenges from the outset. Operations did not commence until after Bush's unsuccessful 1978 congressional campaign for Texas's 19th district. In March 1979, Arbusto began raising capital through private offerings, attracting investments from approximately 50 individuals totaling at least $4.7 million between 1979 and 1983. Key investors included political supporters of Bush's father, such as John Macomber of Celanese Corporation and William Draper III, a venture capitalist. The company focused on low-risk wells but achieved limited success, discovering only a modestly profitable gas field that helped sustain it temporarily. Despite these efforts, Arbusto struggled amid fluctuating oil prices and produced little to no oil, leading to financial hemorrhaging.

In April 1982, facing difficulties in raising funds, Bush shifted to public drilling partnerships, but subscriptions were poor. To leverage his growing family name—his father had become Vice President in 1981—the company was renamed Bush Exploration Oil & Gas Company, yet this did not improve its fortunes. The firm was criticized for prioritizing tax shelters over actual prospecting, as noted in a 1986 New York Times report on its successor. Controversies surrounded its funding, including a $50,000 investment from Salem bin Laden (half-brother of Osama bin Laden) funneled through James R. Bath, a Bush family associate and Texas Air National Guard colleague of George W. Bush. Bath, who served as a director, was linked to Saudi interests, raising questions about foreign influence in Bush's early business ventures. The company's survival relied heavily on write-offs and loyalty from investors connected to the Bush political network.

Arbusto's trajectory ended in 1984 when it merged with Spectrum 7 Energy Corp., with Bush becoming CEO of the combined entity. Spectrum 7 itself faced woes during the 1980s oil price crash and later merged into Harken Energy in 1986. The venture provided Bush with business experience but highlighted reliance on family ties and political connections, drawing scrutiny for its underwhelming performance and opaque funding sources. No major legal actions or convictions are documented against the company, but its story underscores networks of influence in Texas oil and Republican politics.