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Duncan is a city and county seat of Stephens County, Oklahoma, United States. Its population was 22,310 at the 2020 census. Centrally located in Stephens County, Duncan became the county seat after Oklahoma achieved statehood in 1907. Oil wells opened in Stephens County in 1918 and led to rapid development. Cotton was a dominant crop until the Dust Bowl brought its decline, but cattle remain an important part of the economy. The Chisholm Trail passed to the east of Duncan prior to the town's founding, which is home to the Chisholm Trail Heritage Center.
Halliburton Company is an American multinational corporation and the world's second largest oil service company which is responsible for most of the world's largest fracking operations. It employs approximately 55,000 people through its hundreds of subsidiaries, affiliates, branches, brands, and divisions in more than 70 countries. The company, though incorporated in the United States, has dual headquarters located in Houston and in Dubai.
A drop in oil production in the wake of the Iranian Revolution led to an energy crisis in 1979. Although the global oil supply only decreased by approximately four percent, the oil markets' reaction raised the price of crude oil drastically over the next 12 months, more than doubling it to $39.50 per barrel ($248/m3). The sudden increase in price was connected with fuel shortages and long lines at gas stations similar to the 1973 oil crisis.
KBR, Inc. is a U.S. based company operating in fields of science, technology and engineering.
A war profiteer is any person or organization that derives unreasonable profit from warfare or by selling weapons and other goods to parties at war. The term typically carries strong negative connotations. General profiteering, making a profit criticized as excessive or unreasonable, also occurs in peacetime. An example of war profiteers were the "shoddy" millionaires who allegedly sold recycled wool and cardboard shoes to soldiers during the American Civil War. Some have argued that major modern defense conglomerates like Lockheed Martin, Mitsubishi, Boeing, BAE Systems, General Dynamics, and RTX Corporation fit the description in the post-9/11 era. This argument is based in the political influence of the defense industry, for example in 2010 the defense industry spent $144 million on lobbying and donated over $22.6 million to congressional candidates, as well as large profits for defense company shareholders in the post-9/11 period.
Dresser Industries was a multinational corporation headquartered in Dallas, Texas, United States, which provided a wide range of technology, products, and services used for developing energy and natural resources. In 1998, Dresser merged with its main rival Halliburton. Halliburton sold many of former Dresser non "oil patch" divisions, retaining the M W Kellogg Engineering and Construction Company and the Dresser oil-patch products and services that complemented Halliburton's energy and natural resource businesses. In 2001 Halliburton sold five separate, but somewhat related former Dresser non "oil patch" divisions, to an investment banking firm. Those five operations later took the name "Dresser Inc." In October 2010, Dresser Inc., was acquired by General Electric. It is headquartered in Addison, Texas.
Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, and reservoir consulting. It operates in over 120 countries, with research and manufacturing facilities in Australia, Singapore, Malaysia, India, Dubai, Saudi Arabia, Italy, Germany, Norway, Oklahoma, Louisiana and Missouri. From 2017 to 2020, the company was majority owned by General Electric (GE); however, GE no longer owns an economic stake in the company. The company is incorporated in Delaware.
Richard Halliburton was an American travel writer and adventurer who swam the length of the Panama Canal and paid the lowest toll in its history—36 cents in 1928. He disappeared at sea while attempting to sail the Chinese junk Sea Dragon across the Pacific Ocean from Hong Kong to the Golden Gate International Exposition in San Francisco, California.
Erle Palmer Halliburton was an American businessman specializing in oil field services.
Gearhart Industries, The GO Company was an oil well service company founded by Marvin Gearhart and Harrold Owen in 1955 and based in Fort Worth, Texas, United States. It provided well logging and well perforating services to both domestic and international customers.
Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). It generally refers to the phenomenon of major petroleum-exporting states, mainly the OPEC members plus Russia and Norway, earning more money from the export of crude oil than they could efficiently invest in their own economies. The resulting global interdependencies and financial flows, from oil producers back to oil consumers, can reach a scale of hundreds of billions of US dollars per year – including a wide range of transactions in a variety of currencies, some pegged to the US dollar and some not. These flows are heavily influenced by government-level decisions regarding international investment and aid, with important consequences for both global finance and petroleum politics. The phenomenon is most pronounced during periods when the price of oil is historically high.
David John Lesar is an American businessman who is the former chair of Halliburton Energy Services. He was the CEO of Halliburton for 17 years from 2000 to 2017. Trained as a Certified Public Accountant, Lesar spent 16 years at Arthur Andersen. He had spent most of his career at Andersen, where he worked on their Halliburton account. In 1995, Lesar was hired by Halliburton as a new vice president. July 24, 2019 David Lesar was named the interim CEO of HCSC. On June 30, 2020, Lesar was named the President and CEO of CenterPoint Energy.
Pratap Chatterjee is an Indian/Sri Lankan investigative journalist and progressive author. He is a British citizen and grew up in India, although he lived in California for many years. He serves as the executive director of CorpWatch, an Oakland-based corporate accountability organisation. He also works for the Bureau of Investigative Journalism in London. He writes regularly for The Guardian and serves on the board of Amnesty International USA and of the Corporate Europe Observatory
Kenneth Tindall Derr is a member of the board of directors of the Halliburton Company. He is a retired chairman of the board, Chevron Corporation. He served as Chevron's Chairman and chief executive officer from January 1, 1989, to December 31, 1999, when he was succeeded by David J. O'Reilly. Derr is also a former chairman of the board of Calpine Corporation, a director of Citigroup Inc., and a former director of Potlatch Corporation. He is a member of the Council on Foreign Relations.
Zero Halliburton, stylized as ZERO Halliburton, is a manufacturer of hard-wearing travel cases and briefcases, mainly of aluminium. Founded in 1938, the company was sold in 2006 to ACE Co., a Japanese luggage manufacturer.
Southwest Air Fast Express (SAFE), also known as S.A.F.E.way, was a United States airline. It was founded by Erle P. Halliburton, the founder of the New Method Oil Well Cementing Company, and Zero Halliburton, a briefcase manufacturer.
The Deepwater Horizon oil spill was an environmental disaster which began on 20 April 2010, off the coast of the United States in the Gulf of Mexico on the BP-operated Macondo Prospect, considered the largest marine oil spill in the history of the petroleum industry and estimated to be 8 to 31 percent larger in volume than the previous largest, the Ixtoc I oil spill, also in the Gulf of Mexico. Caused in the aftermath of a blowout and explosion on the Deepwater Horizon oil platform, the United States federal government estimated the total discharge at 4.9 MMbbl. After several failed efforts to contain the flow, the well was declared sealed on 19 September 2010. Reports in early 2012 indicated that the well site was still leaking. The Deepwater Horizon oil spill is regarded as one of the largest environmental disasters in world history.
On April 20, 2010, an explosion and fire occurred on the Deepwater Horizon semi-submersible mobile offshore drilling unit, which was owned and operated by Transocean and drilling for BP in the Macondo Prospect oil field about 40 miles (64 km) southeast off the Louisiana coast. The explosion and subsequent fire resulted in the sinking of the Deepwater Horizon and the deaths of 11 workers; 17 others were injured. The same blowout that caused the explosion also caused an oil well fire and a massive offshore oil spill in the Gulf of Mexico, considered the largest accidental marine oil spill in the world, and the largest environmental disaster in United States history.
Erica P. John Fund, Inc. v. Halliburton Co., 563 U.S. 804 (2011), was a United States Supreme Court case in which the Court held that "securities fraud plaintiffs need not prove loss causation in order to obtain class certification." Their decision cleared the way for class action to proceed against Halliburton over its alleged misrepresentation of facts material to the value of its stock price.
References
- 1 2 3 United Against Nuclear Iran webpage
- 1 2 Eli Lake, New York Comptroller Pressures Halliburton on Iran, The New York Sun , January 24, 2005
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