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.
In her recent speech delivered in Independence, Mo., Sarah Palin, mother of the "Drill Baby Drill" mantra heard at the last Republican National Convention, called the British Petroleum disaster "very tragic." She went on to say she hopes the country will be able to "trust the oil companies," according to a Politico story.
As reported by Kansas City Political Buzz Examiner Jason Adkins, BP is engaging in textbook damage control by taking responsibility for the accident and promising to make amends. Depending on how Congressional investigations proceed, however, it's possible elected officials will gauge the viability of their corporate alliances based on public outcry. If constituents aren't vocal enough, lawmakers might read a public willingness to at least pretend the iron fist still wears a velvet glove.
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Comments
unlike* not unless
Now the story is clear, defense contractors and oil companies are allowed to own/operate services related to the oil industry. They
are likely more embarrassed by this fact at this point. It was reported that penalty fees for BP and Halliburton amount to only a couple of billion for about a quarter of the Gulf being soiled.
Lunatic progressives are crying, sobbing, screaming and demanding
a moratorium on drilling from Obama who scolded everyone for not looking like they cared enough. Schwartzeneger changed his mind about drilling off the California coast after this event, too.
And some lady from the Dept of Interior resigned and denied the opportunity to work for the feds again.
Attorneys flocked quickly to control the news releases during the first few days. Disgusting. Only one sad video by the liveleak.com news site by a volunteer pilot allowed the public access from above how it looked after the first week.
Did anyone else notice that Boots and Coots phone number is 1-800-BLOWOUT??
Halliburton makes money on war and oils spills, and there is no way for the consumers to buycott them. The evil guys are often smarter than the good guys.
Yukie must work for Halliburton -- it's a criminal operation with the influence it has in the federal government. Investigate and prosecute -- uphold the laws that exist; that would go a long way toward restoring some kind of trust in the system. The system itself needs a major overhaul -- we need to get past the Age of Oil and soon.
We are being lied to about the severity and longevity of the problem. 4 million gallons a day are being spilled from the well.
Private armies hired by BP are denying access to public lands. One congressman apologized to BP for Obama demanding they clean up and pay for ALL the damage they have done. Big Oil is the largest contributor (briber) to political warchests of BOTH parties. BP CEO has so much disdain for you that he recently refered to you as "the little people". As if we don't matter.
What happened to "Government OF THE PEOPLE, BY THE PEOPLE, FOR THE PEOPLE." All we have left is government by the greedy, bought and paid for by special interests, for their benefit only and the rest of you are just grist for the mill and cannon fodder. To be used up and thrown away. Any of you people up there remember your history? The French Revolution? The American revolution? The fall of the Roman Empire? Your time is coming. Soon. The military will not support you. They are us. You aren't
Hang em for crimes against humanity.
Fix the problem, recoup costs for the effort and turn over the profits to the clean up effort. duh. this is not a difficult decision.
With regards to the specific disaster in the Gulf wasn't Halliburton THE ONE enitty that was arguing with BP to make the well safer? Weird that is not mentioned in the article. Instead we have a picture of a dude that ran the company over a decade ago. That's like blaming Clinton for the current economic malaise.
This doesn't make sense. You write "Just eight days before the uber-Valdez accident, Houston-based Halliburton acquired Boots & Coots Services" The Valdez disaster was over 20 years ago.
steve says:
This doesn't make sense. You write "Just eight days before the uber-Valdez accident, Houston-based Halliburton acquired Boots & Coots Services" The Valdez disaster was over 20 years ago.
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"Uber" in German means over or beyond. So "uber-Valdez" means an oil disaster greater in scope than the Exxon-Valdez; hence, in context it means the Gulf.
As someone who voted for Obama, I am ashamed at the miserable pace of the government's resolution to this disaster. Hang them all for crimes against Mother Earth!
They sure did make their profits: http://halliburton.thinkloop.com/
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