Oil Spill On The Gulf

[Neri]

As the oil spill in the Gulf of Mexico continues to spread, allegations are coming to light that this may be the Halliburton oil spill. BP has claimed responsibility for paying for the oil spill cleanup, and Transocean was operating the oil drilling platform - but both may now be planning to Halliburton for oil spill answers.

How Halliburton was involved with the oil spill
At the time Deepwater Horizon, owned by Transocean and being leased to BP, exploded and began the oil spill, Halliburton was working as a contractor. Transocean hired Halliburton to cement the oil well. Cementing an oil well is done by pumping cement into an oil well to plug it and prevent an oil spill and combustible gas from leaking. When the cement is improperly mixed, improperly pumped, or cracked, Natural gas and oil will push through it. The Deepwater Horizon exploded just as Halliburton finished cementing the well. Halliburton will need a lot more than pay day loans to prove it wasn't the company's fault.

Oil spill concerns with Halliburton
The Halliburton oil spill concerns come from the oil rig cementing process. Halliburton is the largest oil well cementing business within the world which is also 11 percent, rather $ 1.7 billion, of the business the company has. A Halliburton oil spill is typically a result of when the cementing process goes wrong. A 2007 study ended up finding that "cementing was a factor in 18 of 39 well blowouts within the Gulf of Mexico over a 14-year period." Essentially, Halliburton cementing issues are more common than equipment failure and pipe failure when it comes to the reason for Gulf of Mexico oil spills. Australia and other countries have also experienced Halliburton oil spills.

Halliburton oil spill lawsuits
There are many lawsuits that are depending off of the Halliburton oil spill. One of the Transocean employees killed has a wife named Natalie Roshto that is filing a lawsuit. The lawsuit suggest the explosion and ensuing oil spill are Halliburton's fault. The lawsuit specifically states that "prior to the explosion, (Halliburton) was engaged in cementing operations of the well and well cap and, upon details and belief, improperly and negligently performed these duties, which was a cause of the explosion."

Halliburton doesn't claim oil spill responsibility
Despite the fact that both BP and Transocean are taking responsibility for the oil spill, Halliburton has yet to do so. Halliburton has only confirmed the corporation had just completed cementing about 20 hours before the explosion.

Sources for the article
Financial Times
http://www.ft.com/cms/s/0/48419230-57a3-11df-855b-00144feab49a.html

The Atlantic
http://www.theatlantic.com/science/archive/2010/05/halliburton-could-be-at-fault-for-oil-spill/56131/
Wall Street Journal
http://online.wsj.com/article/SB10001424052748703572504575214593564769072.html

CBS News
http://www.cbsnews.com/8301-503544_162-20004069-503544.html

[Jared LeBlue]

I don't know at this point. Regardless of who it is Transocean owns the rig and is ultimately responsible for all contractors, at least thats my opinion.