"Dick" Cheney Made Millions Off Oil Deals with Saddam Hussein

San Francisco Bay Guardian
November 13, 2000 by Martin A. Lee

Here's a whopper of a story you may have missed amid the cacophony of campaign ads and stump speeches in the run- up to the elections.

During former defense secretary Richard Cheney's five-year tenure as chief executive of Halliburton, Inc., his oil services firm raked in big bucks from dubious commercial dealings with Iraq. Cheney left Halliburton with a $34 million retirement package last July when he became the GOP's vice-presidential candidate.

Of course, U.S. firms aren't generally supposed to do business with Saddam Hussein. But thanks to legal loopholes large enough to steer an oil tanker through, Halliburton profited big-time from deals with the Iraqi dictatorship. Conducted discreetly through several Halliburton subsidiaries in Europe, these greasy transactions helped Saddam Hussein retain his grip on power while lining the pockets of Cheney and company.

According to the Financial Times of London, between September 1998 and last winter, Cheney, as CEO of Halliburton, oversaw $23.8 million of business contracts for the sale of oil-industry equipment and services to Iraq through two of its subsidiaries, Dresser Rand and Ingersoll-Dresser Pump, which helped rebuild Iraq's war-damaged petroleum-production infrastructure. The combined value of these contracts exceeded those of any other U.S. company doing business with Baghdad.

Halliburton was among more than a dozen American firms that supplied Iraq's petroleum industry with spare parts and retooled its oil rigs when U.N. sanctions were eased in 1998. Cheney's company utilized subsidiaries in France, Italy, Germany, and Austria so as not to draw undue attention to controversial business arrangements that might embarrass Washington and jeopardize lucrative ties to Iraq, which will pump $24 billion of petrol under the U.N.-administered oil-for-food program this year. Assisted by Halliburton, Hussein's government will earn another $1 billion by illegally exporting oil through black-market channels.

With Cheney at the helm since 1995, Halliburton quickly grew into America's number-one oil-services company, the fifth-largest military contractor, and the biggest nonunion employer in the nation. Although Cheney claimed that the U.S. government "had absolutely nothing to do" with his firm's meteoric financial success, State Department documents obtained by the Los Angeles Times indicate that U.S. officials helped Halliburton secure major contracts in Asia and Africa. Halliburton now does business in 130 countries and employs more than 100,000 workers worldwide.

Its 1999 income was a cool $15 billion.

In addition to Iraq, Halliburton counts among its business partners several brutal dictatorships that have committed egregious human rights abuses, including the hated military regime in Burma (Myanmar). EarthRights, a Washington, D.C.-based human rights watchdog, condemned Halliburton for two energy-pipeline projects in Burma that led to the forced relocation of villages, rape, murder, indentured labor, and other crimes against humanity.

A full report (this is a 45 page pdf file - there is also a brief summary) on the Burma connection, "Halliburton's Destructive Engagement," can be accessed on EarthRights' Web site

Read Full Article by Martin Lee at the San Fransisco Bay Guardian here


And for yet more revelations on this profiteering lying ghoul "Dick" Cheney and his corporate oil dealings with Iraq, please see related article here at Truth Out