Is Halliburton at The Root of Gulf Oil Rig Explosion?
BP’s Gulf oil spill is about to enter its 4th week and now it is official that plan A failed, so what is plan B?
In a previous post, I wrote:
"Hayward added that the first container, or dome that can temporarily arrest the oil spill is at least a week away from being 'in the field,' albeit, here comes the bombshell—get ready—'that is just a temporary fix until a relief well can be drilled to plug the leaks, which could take up to three months.'"
How many of you know the Halliburton connection to BP’s failed oil rig? The media seems to be awfully shy to even bring this to public notice. Nonetheless, it appears that Halliburton may be in the thick of it.
At the time of explosion Halliburton had four employees stationed on the rig. The crew had performed the cementing of a casing string within the last 20 hours, and rumor has it that sufficient time was not allowed for its curing, despite the known danger that faulty cementing processes had caused well explosions in the past.
Former Vice President Dick Cheney’s Halliburton is known for its preferential treatment and winning no-bid government contracts in Iraq. The company is also known for being at the heart of numerous disasters leading to death of US Army personnel in Iraq. Despite that, Betsy Schifman writes Wall Street Still Likes Halliburton. Why is it so?
Robert MacKenzie, an FBR Capital Markets analyst remarked, “We believe a confluence of events outside the control of either Halliburton or Transocean may have contributed to the blowout.” Mackenzie’s words add some credibility to the company’s claim of innocence, since he is an experienced former cementing engineer.
But why was MacKenzie so quick to put his own reputation at stake even when no inquiry had taken place and details leading to the explosion were murky at best?
Dick Cheney is no longer in office, so who is shielding Halliburton? This isn't even an American company — it is headquartered in Dubai.
The more things change, the more they remain the same.