Date: 17 May 2006

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Holding Corporations Accountable
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“Hurricane Halliburton : Conflict, Climate Change and Catastrophe.”

CorpWatch and its partners have released our newest alternative annual report on Halliburton titled: “Hurricane Halliburton : Conflict, Climate Change and Catastrophe.” The new report was prepared in association with Asociacion Civil Labor in Peru, Environmental Rights Action Nigeria (members of the Friends of the Earth International network), Halliburton Watch and the Oil & Gas Project.

download here: www.corpwatch.org/article.php?id=13552

The new report (the third in the series) is being issued on the eve of Halliburton ‘s annual general meeting in Duncan, Oklahoma, on Wednesday, May 17th, 2006. It documents:

* how the company management in Iraq and Kuwait has cheated taxpayers out of millions of dollars through bribery and waste;

* how the company has increased its profits in Iraq by employing sweatshop Asian labor and refusing to pay injury claims;

* how senior management used worker’s pensions to pay for management benefits, despite the fact that the soaring stock price has made the top managers tens of millions of dollars.

Today as the military slows its purchases of Halliburton services in Iraq, the company is diversifying into such profitable areas as the Hurricane Katrina disaster in the Gulf States and the provision of direct services to the oil and gas industry abroad.

In the latter part of this report, we show that the company’s biggest profit center, energy services, has been fraught with charges of bribery and political meddling in Iran and Nigeria.

* Its hydraulic fracturing operations in the United States have had disastrous impacts on the environment, including community water supplies;

* It’s lobbying efforts have prevented legally mandated regulatory oversight.

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