Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
This Is Uncomfortable
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report

Halliburton admits to destroying oil spill evidence

Dan Gorenstein Jul 26, 2013
Share Now on:
HTML EMBED:
COPY

Bad news for Halliburton this morning — the oil services company has admitted to destroying evidence connected to the Gulf spill in 2010. The business will pay a $200,000 penalty, but says it will not face any criminal prosecution for the act.

Halliburton recommended to its client — energy giant BP — that they use 21 so-called collars to securely install a well pipe. BP went with six. Halliburton’s models showed that there was little difference, and that is the evidence Halliburton destroyed.

“Destroying evidence in my view, it’s really a cut above the other charges,” says Fadel Gheit, a senior oil analyst at Oppenheimer. Gheit says he’s not surprised that Halliburton tried to cover its tracks, particularly given the magnitude of the catastrophe.

“It resulted in the deaths of 11 people and the worst environmental disaster in history, so a company like Halliburton, or any other company…will try to distance itself as much as possible,” he says.

Today BP probably has a big smile on its face.

Stanley Reed, who co-wrote the book In Too Deep, about the company and the oil spill, says Halliburton’s involvement bolsters BP’s court case. 

“I think it will make it look like BP was not the only company at fault,” he says. Reed adds BP is facing a payout of anywhere from several to $20 billion in an on-going federal suit in New Orleans.

Halliburton’s admission could potentially save BP billions.

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.