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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (72433)	2/8/2003 3:31:20 PM
From: Rascal	Read Replies (3) \| Respond to of 281500

December 11, 2002 Halliburton and Iraq The United Nations’ inspection of Iraqi weapons sites appears to be going well. But if the process turns south, the Bush administration may decide to move forward with its planned invasion of Iraq. The military operation would benefit many corporate sectors in the United States. Let’s take a look at how Vice President Dick Cheney’s old company, Halliburton, may benefit and how it has profited in the past from business relationships with so-called rogue nations. A recent report by Deutsche Bank says oil field services companies like Halliburton are in a prime position to profit from a U.S. invasion of Iraq. William Nordhaus of Yale University writes in an Oct. 29 paper on the “The Economic Consequences of a War with Iraq” that China, Russia and France “are probably suspicious of American economic designs on postwar Iraq, particularly given the powerful influence in Republican circles of construction and oil exploration companies like Bechtel and Halliburton.” When Cheney was running Halliburton, it sold more equipment to Iraq than any other company did. As first reported by The Financial Times on Nov. 3, 2000, Halliburton subsidiaries submitted $23.8 million worth of contracts with Iraq to the United Nations in 1998 and 1999 for approval by its sanctions committee. Halliburton also has had dealings with Iran and Libya, both on the State Department’s list of terrorist states. Halliburton’s subsidiary Brown & Root, the Texas construction firm that does much business with the U.S. military, was fined $3.8 million for re-exporting goods to Libya in violation of U.S. sanctions. Halliburton Logging Services, a former subsidiary, was charged with shipping six pulse neutron generators through Italy to Libya. In 1995, the company pled guilty to criminal charges that it violated the U.S. ban on exports to Libya. Halliburton was fined $1.2 million and will pay $2.61 million in civil penalties. Posted by Mark Hand, December 11, 2002 pressaction.com