Rich with Oil

After “Mission Accomplished” in Iraq, Halliburton was awarded a multi-billion dollar contract to restore Iraq’s oil producing capacity…

In case you didn’t know, now Vice President Dick Cheney was the CEO of Halliburton for several years prior to his taking office.

…under pressure from various corporate investigators, the military was asked to adhere to rules stipulating that all military contracts be awarded under terms of “full and open competition.” --- So the military took bids on the oil rebuilding work in Iraq. Two companies were awarded contracts in addition to Halliburton. One of those companies was Kellogg Brown & Root which btw is a key subsidiary of Halliburton Co.

But why don’t we just look at the numbers:

$4.3 Billion Mil. Contract - awarded to Halliburton in 2003 (1/2 of which was subject to open competition)
$1.9 Billion Mil. Contract - awarded 2003 (urgency cited as reason for non-competition agreement)
$10 Million - value of Halliburton stock options currently held by VP Dick Cheney

** Kellogg Brown & Root is currently under investigation for misuse of government funds **