Halliburton's Iraq costs $2 bln so far and rising

[Nambe]

Costs incurred by U.S. oil services contractor Halliburton Co. in Iraq have climbed to about $2 billion and are rising, Army spokesmen said Friday, citing the effect of looting and sabotage to the nation's energy infrastructure.

Kellogg Brown & Root, a unit of Houston-based Halliburton, currently holds two contracts, for oilfield repairs and for logistics support services, from which it earns a small percentage as income. As U.S. involvement in Iraq grows longer and more expensive, Halliburton stands to reap bigger profits.

In March, Halliburton was granted, without competition, a contract by the Army Corps of Engineers to repair and restore Iraq's oil fields. As of Sept. 8, the total cost of that contract to taxpayers was just under $948 million, Corps spokesman Scott Saunders said.

That's about $200 million higher than projected just last month, mostly because the U.S. has been forced to import oil and fuels into Iraq, which has the world's second-largest oil reserves after Saudi Arabia. Importing oil, gasoline, diesel and propane costs the United States about $6 million per day. ---

[RUMMYisFROSTED]

1. Which means that Halliburton has just realized

a minumum of $100M in profits, using a conservative estimate of 5%.

[cosmicdot]

2. ahhh, the sweet smell of an open unlimited cost-plus contract

do those "52%", whomever they are, 'get it' yet?

we're and our future we're's are being robbed in broad daylight

open-ended, "cost-plus" basis -- meaning Halliburton gets reimbursed for its costs, plus a percentage of those costs as a fee


http://discuss.jarretthousenorth.com/america/findingHalliburtonContract

http://money.cnn.com/2003/04/11/news/companies/war_halliburton/

http://www.google.com/search?hl=en&lr=&ie=UTF-8&oe=UTF-8&q=halliburton+cost+plus+contract&btnG=Google+Search

[denverbill]

3. I would REALLY like to see an accounting for this money.

When they are paying Iraqi workers about $20/month for labor, how the hell can they rack up $2 billion in charges? I'd like to see these damned costs broken down to see where all the dough is going.

[ninkasi]

6. You might try looking...

for the money in Cheney's bank account. Bet a lot of it's right there. Plenty more, of course, for the rest of his cronies.

[Brucey]

4. Unbelievable!

These people have no shame, no shame at all! Cheney is still being paid by H, and a large payment was given for cleaning up nonexistent oil fires.

[ameriphile]

5. The Iraq War is brought to you by the Bush Administration...

...a subsidiary of Halliburton.

:)

[kwolf68]

7. You know what

God Bless George W Bush and God Bless America. :nuke:

[KeepItReal]

8. Those Iraqi "Terrists" are sooo thoughtful!

By blowing up oil pipelines, power transmission stuff, and doing the "looting and sabotaging" thing, they are single-handedly keeping Red-White-and-Blue Halliburton in business.

It is almost as if the "Terrists" were doing Halliburton stakeholders a favor...

[GreenGreenLimaBean]

9. Who says they're Iraqis????

Pipeline blows up, Halliburton get a PO for another $10million...My
guess the pipeline keeps blowing up until we run outa money.

[oldcoot]

10. Halliburton and Daddy

I thought the last paragraph of this article was interesting. I did not know that the outsourcing of military service jobs did not start until 1992 under Daddy Bush and Secretary of Defense Dick Cheney.

[Zhade]

11. CHRIST! Why don't we just sign over our paychecks to Halliburton already?

NT!

[reprobate]

12. Cost plus contracts went out after WWII.

Just one more charge for the indictment to come when the next administration arrests these bastards for treason.