Halliburton (NYSE:HAL), issued a statement that said, to heck with Obama and his six-month ban on deep-water drilling. Halliburton has no shortage of business. But the statement was enough to pump up HAL stock 12% in a day.
Facing possible jail time for their roles in the largest oil spill in American history, BP and Halliburton are building high-powered legal teams with “deep Department of Justice and White House ties.” But the companies are pursuing other means to defend themselves as well.
Halliburton’s campaign donations have spiked as it tries to curry favor with key members of Congress investigating the disaster. The company donated $17,000 in May, making it “the busiest donation month for Halliburton’s PAC since September 2008,” Politico reports. Thirteen of the 14 contributions from May went to Republicans, while seven went to members of Congress who are “on committees with oversight of the oil spill and its aftermath”
Source:thinkprogress.org
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