Halliburton just keeps on keepin' on...
Whoever would have thought that guar beans would have such an impact on oil production?
The world production for guar gum and its derivatives is about 700,000 tonnes. Industrial guar gum accounts for about 45% of the total demand. It is used as a controlling agent in oil wells to facilitate easy drilling and prevent fluid loss.
In 2012 guar prices increased by 900-1000%. The main reason for this large scale price rise was the inventory build up by companies like Halliburton and Schlumberger, amidst the fear of shortage of guar gum for drilling due to ongoing drought in Rajasthan.http://en.wikipedia.org/wiki/Guar_gum