Halliburton, which has the exclusive United States contract to import fuel into Iraq, subcontracts the work to a Kuwaiti firm, government officials said. But Halliburton gets 26 cents a gallon for its overhead and fee, according to documents from the Army Corps of Engineers....While the Army Corps of Engineers has decided that it only cares about Halliburton's passing of the buck on the (admittedly much greater) overcharging by the subcontractor, it would not be accurate to say that "the main criticism" of Halliburton has shifted away from profiteering. Most people outside of the Pentagon still accuse them of that.
...A company's profits on the transport and sale of gasoline are usually razor-thin, with companies losing contracts if they overbid by half a penny a gallon. Independent experts who reviewed Halliburton's percentage of its gas importation contract said the company's 26-cent charge per gallon of gas from Kuwait appeared to be extremely high.
"I have never seen anything like this in my life," said Phil Verleger, a California oil economist and the president of the consulting firm PK Verleger LLC. "That's a monopoly premium — that's the only term to describe it. Every logistical firm or oil subsidiary in the United States and Europe would salivate to have that sort of contract."
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Add that to the List of Reasons Why Americans Shouldn't Vote for Bushitler and his Cronys of Evil.
posted by Seth at 4:39 PM on December 14, 2003