Gulf oil well disaster could mean explosive profits for Halliburton

[kpete]

how did i miss this gem?, kpete

Gulf oil well disaster could mean explosive profits for Halliburton
May 3, 11:26 PMKansas City Business Commentary ExaminerRomona Paden

The oil well explosion in the Gulf of Mexico could be a well-timed and profitable accident for Halliburton, the global oil company with the famous connection to former U.S. Vice President Dick Cheney. Just eight days before the uber-Valdez accident, Houston-based Halliburton acquired Boots & Coots Services, also based in Houston, in a $240 million cash and stock deal.

Boots & Coots, which uses the graphic of a burning oil well to represent the ampersand in its name, specializes in "pressure control and well intervention services." In other words, when an oil well explodes, Boots & Coots can step in and help remedy the problem. In a release, Jerry Winchester, Boots & Coots president and CEO, says "Combining the resources of both companies creates the premier intervention company across the globe.”

While Halliburton's timing of the acquisition could be chalked up to luck, some members of Congress are asking questions. Reps. Henry A. Waxman (D-Beverly Hills) and Bart Stupak (D-Mich.), have asked Halliburton provide all documents relating to "the possibility or risk of an explosion or blowout" at the rig in the Gulf, according to a report in the LA Times.

more:
http://www.examiner.com/x-38929-Kansas-City-Business-Commentary-Examiner~y2010m5d3-Gulf-oil-well-may-make-for-explosive-profits-for-Halliburton
http://articles.latimes.com/2010/may/01/nation/la-na-oil-spill-investigation-20100501

[Dappleganger]

1. How opportunistic of them. nt

[Scuba]

2. Good. After nationalizing them...

...we can use future profits to try to clean up their mess and compensate their victims.

[FarCenter]

3. Plus, with the drilling ban, they will be cementing in a lot of partially completed wells

[happy_liberal]

4. cause the problem-profit on the solution

That is what Dick Cheney does.

[ixion]

5. "well-timed and profitable" hmmmm

Anyone check for sabotage? Just sayin'...

[Rex]

6. It is a shame we don't punish criminal activity by big conglomerates

like Halliburton...

[Odin2005]

7. That is disgusting!

:grr: