Oil and gas interests appear set to gain allies in the executive offices in Washington, D.C., with presidential candidate George W. Bush's selection of Halliburton Co. chairman and chief executive Dick Cheney as his vice presidential running mate. Cheney stepped down from the oilfield-services company post in mid-August. Dave Lesar, president, has assumed Cheney's posts and retained the president position. A Houston newspaper reported shortly after the announcement said Lesar would consider moving Halliburton headquarters to Houston. A company spokesman says Lesar is not considering it. There are approximately 30 employees at the Dallas offices. Cheney, secretary of defense under former president George Bush, hails from Wyoming, which he represented in Congress from 1978 to 1988. Prior to holding elected office, he was Gerald Ford's chief of staff Cheney has the oil industry's view of sanctions-at least big-oil's view. Speaking to Oil and Gas Investor in March, he said, "My own personal view both from a policy standpoint as well as speaking for Halliburton, I do think it's time to modify the sanctions policy. I personally have spoken many times against unilateral sanctions. I think they are a mistake. They almost never work." Significant non-U.S. oil investment is being made in Iran, in particular, right now. U.S. companies are prohibited from doing business there. Cheney said, "I think it's time to modify our policy and I was pleased to see the administration start to move in that direction in the last day or two on some exports but the oil and gas sector is still excluded from that. I think that long-term it is in our interest to rebuild those relationships [with U.S.-sanctioned countries. Iran is] one of the places where I would start."

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