Iraq war boosts Halliburton profits

[CShine]

Controversial US oil and services group Halliburton has said that its contracts in Iraq had helped boost its turnover by about 80% in the first three months of the year. Support work to US military operations and US-funded reconstruction projects made up $2.1 billion out of the company's $5.5 billion of revenue in the first quarter, the Houston-based group said in a statement on Wednesday. The contracts also contributed $32 million of operating profit to Halliburton, which was run from 1995 to 2000 by Vice President Dick Cheney.

The Defence Department is investigating some of the work of Halliburton and its Kellogg, Brown and Root subsidiary following allegations of overcharging. The group has seen 34 workers killed in Iraq since the US invasion last year. But Halliburton said it was determined to stay in Iraq.

Chief executive Dave Lesar said "we are committed to honour our contracts and I am extremely proud of the tenacity, the courage and sacrifice of our employees in Iraq. In the face of a hostile environment, KBR performs well."

"I am disappointed that the allegations, by politicians and in the media, have increased security risks for our employees," he said.


http://english.aljazeera.net/NR/exeres/9087FAAC-F2CF-421D-A5F9-9A32763FF9DA.htm

[wellst0nev0ter]

1. There Used To Be A Time That This Would Piss Me Off

To no end, now it's just another dull dull drop in this Chinese water torture.

[Old and In the Way]

2. You suffer from Bush Outrage Syndrome

I agree, though. In the pre-2000 world, Bush would be in the sentencing phase of his criminal trial.