The New York Times, which has been aggressive in covering the contracts given to Halliburton during the Iraq war, comes to the following conclusion about their performance in Iraq:
An examination of what has grown into a multibillion-dollar contract to restore Iraq’s oil infrastructure shows no evidence of profiteering by Halliburton, the Houston-based oil services company, but it does demonstrate a struggle between price controls and the uncertainties of war, with price controls frequently losing.
A little later on:
So far this year, Halliburton’s profits from Iraq have been minimal. The company’s latest report to the Securities and Exchange Commission shows $1.3 billion in revenues from work in Iraq and $46 million in pretax profits for the first nine months of 2003.
It shouldn’t be surprising that price controls have fallen by the wayside in a place where speed is important — click here for more background (posted by Daniel Drezner).
The Dish 