Halliburton Moving to Dubai
Ever since Vice President Dick Cheney moved into the White House Halliburton has been the Left’s whipping boy. Anti-war rallies regularly blame the multinational for going to war in Iraq. Haliburtion is blamed for war profiteering despite the fact that it isn’t doing that well financially in Iraq–only “3 percent of the unit’s revenues” in 2005. They’re in the running for “Worst Company in America.” A comic book even mocked the company.
Congressional Democrats blasted the company. Sen. Patrick Leahy said,
This is an insult to the U.S. soldiers and taxpayers who paid the tab for their no-bid contracts and endured their overcharges for all these years. At the same time they’ll be avoiding U.S. taxes, I’m sure they won’t stop insisting on taking their profits in cold hard U.S. cash.
Rep. Henry Waxman wants to hold hearings.
So it shouldn’t be a surprise Halliburton is moving its headquarters from Houston to Dubai. The company says it’s because much of their business is in the Eastern Hemisphere:
“The Eastern hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities,” said CEO Dave Lesar at an energy conference in nearby Bahrain. “And growing our business here will bring more balance to Halliburton’s overall portfolio.”
“Halliburton Moves Its Headquarters Abroad”
“Halliburton to Move Headquarters to Dubai” [via Joe Gandelman]
Halliburton Moving Headquarters to Dubai…
Halliburton CEO Dave Lesar is moving to Dubai and taking much of the company’s operations with him. Clifford Kraus of the NYT reports:
Halliburton, the big energy services company, said today that it would open a corporate headquarters in the …