Sunday :: Feb 23, 2003

Cheney Lies About North Korea But Still Flacks for Halliburton

by Steve

Remember several weeks ago when Dick Cheney said over and over again that North Korea’s restarting of their nuclear reactors could only have one purpose, those of weapons development, because the reactors were of no use to them in generating electricity? Along comes a story in today’s New York Times that points out how energy-starved the North is, and how desperate they are for electricity. Yet the man widely credited with being the brains behind the Administration’s energy policy tells the world that the reactors started by the North aren’t significant to their energy needs.

Yup, Dick sounds like the brains to me.

Oh, and on a related note, many of us are assuming, possibly incorrectly, that western oil companies would reap immediate bonanzas from the liberation and American takeover of Iraqi oil inventories. It turns out that the most immediate winners from our imminent invasion and corralling of Iraqi reserves wouldn’t be from western oil companies developing new sources, but rather companies who specialize in repairing and upgrading existing refining and delivery systems. It appears that oil consultants believe the most immediate benefit from regime change would be seen in the existing oil fields and delivery systems, with new sources and supplies not being brought on line for years at least. And according to a very informative story in Saturday’s New York Times, guess which firm is in the best shape to profit immediately from such work in Iraq shortly after an occupation? If you said Halliburton, take the rest of the day off.

Steve :: 11:46 PM :: Comments (3) :: Digg It!