Halliburton’s Decision to Shift Headquarter Triggers Political Firestorm in US

Halliburton’s Decision to Shift Headquarter Triggers Political Firestorm in US

Halliburton Co.’s recent decision to move its headquarter to Dubai from Texas has triggered a political firestorm as Senator Hillary Clinton and other top Democrats expressed outrage at the oil services giant. US Democrats now planning to seek a congressional review of the decision, saying it is motivated by greed. However, Dick Cheney, who earlier headed Halliburton previous to become US vice-president, said the move was to capitalize on the booming energy sector in the Gulf region.

As per the reports, Congressman Henry Waxman, who heads the chief investigative committee in the House of Representatives, is contemplating to hold a hearing on the Dubai issue. Reacting to the company’s decision, Senator Patrick Leahy, the top Democratic member on the Senate judiciary committee, has reportedly said, ‘this is an insult to the US soldiers and taxpayers who paid the tab for their no-bid contracts and endured their overcharges for all these years’.

Hillary Clinton, the New York senator and presidential candidate has criticizing the decision has said that they have a lot of evidence of misuse of government contracts and how they have cheated the American soldier and cheated the American taxpayer. The company is at present being investigated by the Securities and Exchange Commission and the US justice department over allegations of improper business affairs in Iraq, Kuwait and Nigeria and most serious allegation of improper billing for food and fuel services in the war-torn Iraq.

Moreover, the decision to shift headquarter is obviously the latest confirmation of U.S. oil industry that has been heating up Middle East operations in recent times. Schlumberger, Halliburton’s chief rival, opened a research center in the region in the past two years, while Shell has dramatically expanded operations. Dubai is increasingly becoming a growing hub for Western business and investments, sandwiched between Saudi Arabia and Oman and is surrounded by the world’s biggest proven oil reserves.

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Posted by: Balendu    Source