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Banned
Government work granted without competition to a Halliburton Co. subsidiary to fight oil well fires in Iraq could be worth as much as $7 billion over two years, but just a fraction of that has been spent, the Army Corps of Engineers has disclosed.
The deal also allows Halliburton subsidiary KBR, an engineering and construction company, to earn another 7 percent in profit. But as of last week, only $50.3 million had been spent. The $7 billion value was based on a worst-case scenario that hasn't occurred. Coalition forces control all of Iraq's oil wells, and only one fire remains.
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