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Bulsajo
Joined: 16 Jan 2003
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 Posted: Mon Nov 07, 2005 9:27 am Post subject: Halliburton overpaid by $208 Million |
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I still don't believe that the invasion of Iraq was 'all about oil', but when you see a story like this you have to wonder...
With all the money flying around Iraq I can easily believe that huge overpayments are mistakenly made on a regular basis.
That's what audits are for.
The disturbing part is the lack of transparency, and it's not just 'a lack of transparency' it's hiding the overcharges and then lying about why you are hiding them when you are caught.
| Quote: |
'Halliburton overpaid $208m for contracts'
November 7, 2005
Washington: Apparent overcharges of more than $200 million in contracts paid for with Iraqi oil money to a Halliburton subsidiary should be "reimbursed expeditiously" by the US, an international watchdog agency said on Saturday.
The International Advisory and Monitoring Board for the Development of Iraq said in a statement that a special audit had been conducted focusing on Halliburton's Kellogg, Brown and Root (KBR) unit for the procurement and distribution of fuel products and the restoration of Iraq's oil infrastructure.
The monitoring board cited a figure of $208 million, which had been questioned by the US Defence Contract Audit Agency, the Pentagon's auditing arm.
In a statement dated November 4 but made public on its website on Saturday, the board said it "recommends that amounts disbursed to contractors that cannot be supported as fair be reimbursed expeditiously."
A telephone call to Halliburton for comment was not immediately returned.
Iraq's oil account, called the Development Fund for Iraq, was set up by the UN Security Council, along with the monitoring board, to watch over the stewardship of Iraq's natural resources during the US civil administration of Iraq, which began in May 2003 and ended on June 28, 2004.
The monitoring board's life was extended after an appointed transitional Iraqi government took over on June 29, 2004.
In May 2005, the board noted "with regret" that the US agency had tried to hide from it more than $200 million in apparent overcharges in contracts paid for with Iraqi oil money and awarded on a noncompetitive basis to Halliburton, a company once led by Vice President Dick Cheney.
The US agency had turned over heavily edited audits to the board, stating that the deletions were made to protect trade secrets. An unedited version of the audit later surfaced, showing the deletions sought to conceal questionable billings.
- Reuters |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Mon Nov 07, 2005 3:18 pm Post subject: |
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There is a growing feeling - as I have mentioned here before - that the invsaion was related to oil in the sense that the Iraqis wanted oil contracts priced in Euros not dollars.
Given the high external debt the US carries, that was not an acceptable option as it would have caused the dollar to fall.
To prevent financial implosion and economic chaos at home, they had to ensure that the dollar continued the currency of oil contracts.
(There are some bright people in the Bush Administration, even if I disagree with them). |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Fri Jan 27, 2006 2:07 am Post subject: |
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Here's one guy who proably doesn't mind ... 
Laughing all the way to the bank 
Weapons of Mass Distraction
Michael Moore Owns Halliburton Stock
B10318 / Wed, 2 Nov 2005 11:29:02 / Intelligence
��I don��t own a single share of stock!�� filmmaker Michael Moore proudly proclaimed.
He��s right. He doesn��t own a single share. He owns tens of thousands of shares - including nearly 2,000 shares of Boeing, nearly 1,000 of Sonoco, more than 4,000 of Best Foods, more than 3,000 of Eli Lilly, more than 8,000 of Bank One and more than 2,000 of Halliburton, the company most vilified by Moore in ��Fahrenheit 9/11.��
If you want to see Moore��s own signed Schedule D declaring his capital gains and losses where his stock ownership is listed, it��s emblazoned on the cover of Peter Schweizer��s new book, ��Do As I Say (Not As I Do): Profiles in Liberal Hypocrisy.��
And it��s just one of the startling revelations by Schweizer, famous for his previous works, ��Reagan��s War�� and ��The Bushes.��
Other examples:
http://thehypert.gnn.tv/blogs/10318/Michael_Moore_Owns_Halliburton_Stock |
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canuckistan
Mod Team
Joined: 17 Jun 2003
Location: Training future GS competitors.....
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| Posted: Fri Jan 27, 2006 9:55 am Post subject: |
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| I'm amazed no one has pointed out that the UN's budget "crisis" some in this admin love to may political hay about (arguing that it is an "uneeded" body as well) would be more than covered just by the graft emanating from Halliburton contracts alone. |
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buymybook
Joined: 21 Feb 2005
Location: Telluride
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| Posted: Sat Jan 28, 2006 10:00 pm Post subject: |
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| Wangja wrote: |
There is a growing feeling - as I have mentioned here before - that the invsaion was related to oil in the sense that the Iraqis wanted oil contracts priced in Euros not dollars.
Given the high external debt the US carries, that was not an acceptable option as it would have caused the dollar to fall.
To prevent financial implosion and economic chaos at home, they had to ensure that the dollar continued the currency of oil contracts.
(There are some bright people in the Bush Administration, even if I disagree with them). |
Sometimes America likes it when the dollar falls. Is that why America attacked Iraq, to keep the dollar high? I think not!
If America wanted the oil of another country they could have stayed close to home, went across the northern border, and taken the oil in Alberta Canada. 
The theory of "Iraq for oil" is dumbfounded! |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Sun Jan 29, 2006 12:15 am Post subject: |
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| canuckistan wrote: |
| I'm amazed no one has pointed out that the UN's budget "crisis" some in this admin love to may political hay about (arguing that it is an "uneeded" body as well) would be more than covered just by the graft emanating from Halliburton contracts alone. |
And what of the fallout from the UN's widespread OIL 4 FOOD global porkbarrel fiasco?
If there was a thread started on this, it seems to have escaped me.
Dirty, dirty, dirty ...
| Wangja wrote: |
| There are some bright people in the Bush Administration |
Indeed, not many sensible people disagree with this.
It's their warped scruples, the abounding corruption & overall lack of intergity that's most widely opposed.
So goes politics |
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