Cheney's Oil Services Firm Lands Top Enviro Rank

Cheney's Oil Services Firm Lands Top Enviro Rank

Despite sharp criticism from environmental groups, Republican Vice President nominee Richard (Dick) Cheney's oil services company, Halliburton Company, has a strong environmental track record, according to Innovest Strategic Value Advisors' recent report on the oil and gas sector.

An article in the July 27 edition of the New York Times noted that Halliburton and other oil service companies were the target of environmentalists who have "consistently" complained about these companies' environmental policies and track records.

However, according to Innovest's just released, 50-page report, "The Oil & Gas Services Industry -- Hidden Risks and Value Potential for Strategic Investors," Halliburton Co. emerged as the top environmental performer among a competitive set of 21 large cap U.S. oil and gas services stocks. Halliburton scored highly in the 60 plus-factor analysis of environmental management capabilities, as well as in their capacity to profit from environmentally driven business opportunities.

According to Matthew Kiernan, Innovest's executive managing director, environmental issues clearly pose major risks for the oil and gas services sector:

"What is perhaps less well known is that they can also be a source of competitive advantage and revenue growth if a company manages them strategically Compared with its industry peers, Halliburton is doing an outstanding job in this regard," Kiernan said.

The report's central findings show that companies receiving above average EcoValue 21 ratings from Innovest will, on average, outperform their industry competitors financially. Going forward, there is likely to be an even greater performance differential between top and bottom performers. According to Innovest, this "environmental performance premium" is being driven by increasing environmental regulations, public concerns about the environment, and market demands for more environmentally responsible products and corporate policies.

Innovest Strategic Value Advisors is an internationally recognized investment advisory firm specializing in environmental finance and investment opportunities.

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