Friday, June 18, 2004

Iraq in $

Now that the 9/11 commission has found "no credible evidence that Iraq and al-Qaeda co-operated on attacks against the United States", it's worth looking again at how contracts for the reconstruction of Iraq's oil industry were awarded; U.S. vice-president Dick Cheney was in charge. Cheney had been managing director of a company called Halliburton from October 1995 to August 2000.
In November 2002, six months before the invasion of Iraq, the Pentagon secretly asked Halliburton to plan for reconstruction of Iraq's oil supply, paying the company $1.9 million for the study. Five months later, the Pentagon chose a subsidiary of Halliburton, Kellogg Brown & Root (KBR) to carry out the plan that the parent company had defined. The work was awarded under a discretionary process so there was no invitation to tender; an email showed this was sanctioned by Cheney. Halliburton's stock rose from its then value of $71.3 million to $2.4 billion within nine months: more than thirty fold.
In addition, Halliburton won a further $1.2 billion tender for work in Iraq despite being under investigation by the Securities and Exchange Commission (SEC) for accounting irregularities during Cheney's directorship.
Even though Iraq was not implicated in attacks against the U.S., Cheney had already planned to kill thousands – not just Iraqis but Americans too – and make a profit out of it. And lest we forget, our government sanctioned this too.

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