Importing Oil Into Iraq

“Of the $1.6 billion the Corps of Engineers had allocated as of Oct. 17 to rebuild Iraq’s oil infrastructure, some $762.4 million had been spent to import fuel and repair Iraq’s fuel distribution network. Halliburton is permitted to earn a profit of anywhere from 2 to 7 percent on the cost of the assignment.”
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“Given the extraordinarily high prices that Halliburton has been charging to import gasoline, this action could save American taxpayers hundreds of millions of dollars,” Rep. Henry Waxman,

We only get 2-7% on the cost it takes us to do the job? How will we make more money? Any Economics 101 student will tell you, “run up the cost”.

-b