Sunday, June 6, 2010

Halliburton (NYSE:HAL): We're Not Responsible For Spill Containment or Spill Cleanup

Halliburton (NYSE:HAL) seems to be under the impression they are absolutely absolved of all responsibility in the current oil spill containment efforts. Rep. Edward Markey wrote letters to all companies involved in the hazardous oil spill requesting contributions to an independent science fund, they got the "cold shoulder" from Halliburton and no funds were given. BP on the other hand offered, within three days a $500 million commitment.

"Halliburton is apparently more worried about litigation than scientific investigations," said Rep. Markey, who is one of the chairman of the Energy and Environmental Subcommittee. "In order to prevent catastrophes like this from ever occurring again, this disaster needs to be a teachable, researchable moment. Halliburton seems more worried about their own impeachable moment."

Tim Probert, Halliburton's president responded personally to Markey by letter yesterday. He stated that he did not believe their company was one of the responsible parties for the oil spill cleanup. Despite the fact Halliburton was the company who had been working on the cement plug that failed on the Deepwater Horizon.

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