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Context of '2004: General Electric Uses Legal Loophole to Do $270 Million In Business With Iran'

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CNN reports that despite US government prohibitions (see March 15, 1995 and May 6, 1995) banning US citizens and business from doing business with Iran, dozens of US companies are actively conducting business there, including Halliburton, ConocoPhillips and General Electric. The companies are using a complicated array of corporate loop-holes and off-shore accounts to maneuver around US laws. Michael Ledeen, interviewed by CNN, says these companies are aiding terrorism. “The oil companies are a wholly owned subsidiary of the government… the government is the primary sponsor of terrorism,” he says, additionally claiming that “they have separate organizations that are used to funnel oil profits and other profits into the terror network.” [CNN, 2/10/2003; CNN, 5/29/2003]

Entity Tags: ConocoPhillips, Halliburton, Inc., Michael Ledeen, General Electric

Timeline Tags: US confrontation with Iran

General Electric does about $270 million in business in Iran through one of its foreign subsidiaries. The company has sold Iran hydroelectric equipment, medical equipment, and oil and gas equipment. Under current US law, companies are barred from doing business with nations that the US State Department has said are sponsors of terrorism. However the law does not prohibit a company’s foreign subsidiaries from engaging in such business. [Associated Press, 2/2/2005]

Entity Tags: General Electric, US Department of State

Timeline Tags: US confrontation with Iran

General Electric (GE) follows Halliburton and ConocoPhillips, announcing that the company will no longer accept business from Iran (see May 29, 2003). “Because of uncertain conditions related to Iran, including concerns about meeting future customer commitments, we will not accept any new orders for business in Iran effective Feb. 1,” explains Gary Sheffer, a GE spokesman. “This moratorium on new orders will be re-evaluated as conditions relating to Iran change.” [Associated Press, 2/2/2005; Forbes, 2/2/2005] Under current US law, companies are barred from doing business with nations that the US State Department has said are sponsors of terrorism. However the law does not prohibit a company’s foreign subsidiaries from engaging in such business. [BBC, 7/20/2004; Associated Press, 2/2/2005]

Entity Tags: US Department of State, Halliburton, Inc., General Electric, ConocoPhillips, Gary Sheffer

Timeline Tags: US confrontation with Iran

The Intermountain Rural Electric Association (IREA) of Sedalia, Colorado, gives Patrick Michaels, a climatologist who disputes the consensus opinion that greenhouses gases are responsible for global warming, $100,000 and helps launch a fundraising campaign for him. Michaels had told Western business leaders the year before that he needed more funds to continue his research and writing. In a July 17 letter to 50 other utility companies, Stanley Lewandowski, IREA’s general manager, writes, “We cannot allow the discussion to be monopolized by the alarmists.” He requests that the other electric cooperatives collaborate on a campaign to discredit “alarmist” scientists and Al Gore’s movie An Inconvenient Truth. According to Lewandowski, one company has said it will contribute $50,000 to Michaels, while another plans to give money the following year. [Associated Press, 7/27/2006]

Entity Tags: Stanley Lewandowski, Patrick Michaels, Intermountain Rural Electric Association

Timeline Tags: Global Warming

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