Halliburton Overcharging for Gas
Read here for the dirt.
"Halliburton then adds a fee that boosts the cost to $1.62 to $1.70 per gallon -- nearly a dollar more than the price in the Mideast, the letter said."
Do we need a serious audit? Why is this considered legitimate? What am I missing? They're going to profit, but charging more than a dollar a gallon than the Mid-East average sounds a little bit like extortion. If we can buy the gas for a dollar less per gallon, why not do it? Wouldn't that help build good will if we were doing more business with other countries in the region?
Isn't Cheney still getting cash from Halliburton?
"Halliburton then adds a fee that boosts the cost to $1.62 to $1.70 per gallon -- nearly a dollar more than the price in the Mideast, the letter said."
Do we need a serious audit? Why is this considered legitimate? What am I missing? They're going to profit, but charging more than a dollar a gallon than the Mid-East average sounds a little bit like extortion. If we can buy the gas for a dollar less per gallon, why not do it? Wouldn't that help build good will if we were doing more business with other countries in the region?
Isn't Cheney still getting cash from Halliburton?
Comments
Isn't Cheney still getting cash from Halliburton?
Yes. They call it deferred payments from his servernce package.
I call it a conflict of interest.
Reason #944322 not to vote for George Bush JUNIOR next Nov...
Cheney's office has said the vice president had no role in the contract and that the deferred payments were for his services while he headed the company.
Sure.
so how much is Halliburton charging for gas more than they should? (above cost)
Waxman and Dingell said the corps informed them the Army paid Halliburton more than $300 million to import some 190 million gallons of gasoline into Iraq -- an average of about $1.59 per gallon.
Halliburton then adds a fee that boosts the cost to $1.62 to $1.70 per gallon -- nearly a dollar more than the price in the Mideast, the letter said.
how misleading were you trying to be with that "extra dollar" quote?
the Halliburton fee was a few cents, not a dollar.
now, why they're paying $1.59 is a real question. Halliburton says it's due to extra costs etc. associated with transporting oil/gas through hostile enviornments.
if you have any numbers on that this thread might get traction, but i don't see how you or i can refute the initial $1.59 figure w/o more information.
Originally posted by alcimedes
now, why they're paying $1.59 is a real question. Halliburton says it's due to extra costs etc. associated with transporting oil/gas through hostile enviornments.
Right, the point is that while their "profit margin" is programmed in at 2-7%, their costs seem outrageously high. The experts interviewed by the Times assert that the wholesale cost of gas in the region is $0.71/gal, and ground transportation costs should be on the order of a quarter a gallon (you're moving the stuff the equivalent of from DC to Boston), leaving fully a third of their costs a mystery. One hundred million dollars. That would buy an awful lot of security guards.
Originally posted by alcimedes
how misleading were you trying to be with that "extra dollar" quote?
the Halliburton fee was a few cents, not a dollar.
Sorry, not intentionally. Perhaps I shouldn't have used the word dirt.
I didn't think much of the article until I read that part about the $1 a gallon. Gas in the region is much less expensive than what they're charging, that's my point. Towel got it right. If gas could be purchased from a neighboring country and delivered for less, that would serve two purposes.
One, it would cost less. Maybe not a dollar, but more than just a few cents. Two, it would be a good neighborly thing to do. Get involved with the countries there because the more you work with someone the more understanding there will be. The more ties there are, the better the countries will get along. It's one of the fundamentals of the free market thought. If your economies are so closely related the countries can't afford to fight each other.
I asked if we needed an audit. I didn't ask for Cheney's head on a platter. I don't think an audit would be overreacting. I think that's just good business.