The Master Builder

(5 of 5)
For better or worse, Halliburton's fate is tied up with the U.S. military. "We'll scale back when they scale back," says Lesar. "You have to realize this is a Pentagon-driven decision." Despite its criticisms of Halliburton, the Pentagon is standing by the company. "There are a number of contractors, including Halliburton, that are doing great work supporting our troops under combat conditions," says Lieut. Colonel Joe Yaswell, a Pentagon spokesman.

Lesar expects Halliburton to be in on Iraq's future oil business even after the U.S. military is gone, as his company now has Iraq expertise. But while the oil fields may need Halliburton, Iraq's business community may not be so sure. To the Iraqis, Halliburton and the military are virtually synonymous — they are simply "the Americans." Given the meager trickle-down effect, the complaints of unfairness and overcharging, the Iraqis may remember Halliburton not as a savior but as a profiteer. Just ask Abdul Halim and the others gathered last week, hoping to win some work. They are still waiting for their chance.