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Pete Mackey
Pete Mackey
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Transco – Enjoying The Benefits Of Doing Business In The U.S. Without The Responsibilities

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Self described as "the world’s largest offshore drilling contractor," Transocean, Ltd. is headquartered in the foothills of the Swiss Alps. Is it the clean mountain air, or perhaps the rosy cheeked milk maidens that drew Transco from its original Delaware base? Think again. The company’s tax rate in Switzerland is less than half of what it was in the United States.

Moreover, the Deepwater Horizon rig was registered in the Marshall Islands (nowhere near Delaware or the Swiss Alps), where safety regulations are not as rigorous as those in the United States. While foreign companies have every right to do business in and with the U.S., it is hard to call Transco foreign. And if you are one of those who believes that we need an iron curtain across our southern border, this ought to really make your blood boil (unless you are a Texas politician, lobbyist or oil executive).