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The Texas-based oil giant’s political action committee made 14 contributions during the month of May, according to a federal campaign report filed Wednesday — 13 to Republicans and one to a Democrat. It was the busiest donation month for Halliburton’s PAC since September 2008.
Of the 10 current members of Congress who got money from Halliburton in May, seven are on committees with oversight of the oil spill and its aftermath.
Halliburton’s political contributions in May are the highest they’ve been since September 2009, when the PAC also gave $17,000 in donations. In fact, the last time the company gave more than $17,000 in one month was when it donated $25,000 during the heat of the presidential campaign in September 2008.
www.politico.com...
[edit on 4-6-2010 by David9176]
Concerns about the cementing process—and about whether rigs have enough safeguards to prevent blowouts—raise questions about whether the industry can safely drill in deep water and whether regulators are up to the task of monitoring them.
The scrutiny on cementing will focus attention on Halliburton Co., the oilfield-services firm that was handling the cementing process on the rig, which burned and sank last week. The disaster, which killed 11, has left a gusher of oil streaming into the Gulf from a mile under the surface.
Federal officials declined to comment on their investigation, and Halliburton didn't respond to questions from The Wall Street Journal.
According to Transocean Ltd., the operator of the drilling rig, Halliburton had finished cementing the 18,000-foot well shortly before the explosion. Houston-based Halliburton is the largest company in the global cementing business, which accounted for $1.7 billion, or about 11%, of the company's revenue in 2009, according to consultant Spears & Associates.
The scrutiny on cementing will focus attention on Halliburton Co., the oilfield-services firm that was handling the cementing process on the rig, which burned and sank last week. The disaster, which killed 11, has left a gusher of oil streaming into the Gulf from a mile under the surface.
Was Gulf Oil Spill an Inside Job?
Could the catastrophic Gulf of Mexico oil rig explosion be part of a larger scheme to “reform” the energy industry, just as the Obama administration has “reformed” healthcare, banking and automobile manufacturers? Worse, is “cap and trade”—possibly the worst legislation ever penned—the ultimate endgame behind this spill, which they are now capitalizing upon?
The first red flag receiving virtually no attention is that Halliburton (of Dick Cheney fame) had finished a cementing process only 20 hours prior to Deepwater Horizon erupting in flames. Lawsuits have already been filed, with Reuters reporting on April 29, “Halliburton improperly and negligently performed its job in cementing the well, increasing the pressure at the well and contributing to the fire, explosion and resulting oil spill.”
As a result, a high-pressure pocket of deep oil 30,000 feet beneath the ocean floor erupted with the force of a gigantic, non-stop fire hose. A surviving worker on the rig, John Kersey, said it sounded “like a war zone” as alarms were triggered, electricity shorted out, and flames shot 300 feet into the air. The inferno-like blaze could be seen 35 miles away.
Halliburton Shares Soar as Company Outlines Obligations in BP Oil Spill
Halliburton (HAL) shares jumped 12% in Wednesday trading, as company officials reassured the market that it's indemnified against potential claims and expenses arising from BP's (BP) massive Deepwater Horizon oil spill in the Gulf of Mexico.
Halliburton served as the cement contractor on the ill-fated Deepwater Horizon oil rig, which exploded on April 20 and again April 22, killing 11 crew members.