Halliburton

WHAT'S NEW ON CORPWATCH
Holding Corporations Accountable
<< http://www.corpwatch.org >>

Houston, May 15, 2007: CorpWatch and its partners today released an alternative
annual report on Halliburton titled: "Goodbye Houston" The new report was
prepared in association with Halliburton Watch and the Oil & Gas Accountability
Project.
http://corpwatch.org/article.php?id=14482


The new report (the fourth in the series) is being issued on the eve of
Halliburton 's annual general meeting in Woodlands, Texas, on Wednesday, May
16th, 2007. An in-depth, hard-hitting report, "Goodbye Houston," provides a
detailed look at Halliburton's military and energy operations around the world
as well as its political connections. It includes a series of recommendations
for the company and its shareholders as well as for the United States
policymakers.

Halliburton is one of the 10 largest contractors to the U.S. military. It has
earned over $20 billion from the U.S.military in war-related contracts in Iraq
since the March 2003 invasion. This cash bonanza may well be over because of
the cancelation of its two most lucrative contracts: oil infrastructure
reconstruction and military base support.

"With the loss of its two biggest taxpayer-funded contracts in Iraq,
Halliburton has decided that its future lies outside the United States. The
company decision to move its headquarters to Dubai could spell a major
financial loss to the U.S. Treasury," says Pratap Chatterjee, co-director of
CorpWatch.

"Given the multiple ongoing investigations into Halliburton 's alleged
wrongdoing, policymakers should closely scrutinize Halliburton 's latest move,
and whether it will allow the company to further elude accountability,� said
Charlie Cray, co-director of Halliburton Watch and director of the Center for
Corporate Policy. �Moreover, this underscores the need for Congress to bar
companies that have broken the law, or avoided paying taxes, from receiving
federal contracts.�

"Goodbye Houston" also documents

* how Halliburton may have broken the law by employing private security guards
like Blackwater and Triple Canopy; the Triple Canopy guards have been alleged
to have shot at unarmed Iraqis for sport

* Halliburton truck drivers allege the company failed to adequately protect
them in Iraq

* new military audits which show deliberate concealment of high overheads

* new lawsuits allege that company management in Iraq and Kuwait knowingly
wasted millions of dollars of taxpayers dollars

Today as the military slows its purchases of Halliburton services in Iraq, the
company is diversifying into such profitable areas the provision of direct
services to the oil and gas industry abroad.

* Halliburton has finally admitted that its executives may have been involved
in bribery and political meddling Nigeria

* Halliburton 's hydraulic fracturing operations in the United States have
continued to have disastrous impacts on the environment, including community
water supplies

* Halliburton has been accused of substandard work on offshore operations in
Brazil, and is under investigation for no-bid contracts in Algeria