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Online Videos and Articles > Chevron vs Ecuador

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message 1: by Eugene (new)

Eugene (eugeniu) | 7 comments About a week ago, the world's third largest corporation, larger than the 150 poorest countries in the world in terms of revenue vs GDP, was finally fined $8 billion for the enormous amount of oil contamination it's subsidiary Texaco had done to Ecuador's northern jungles. This case has been going on for 17 years now, and I remember watching the documentary on the contaminations, Crude (2009), which predicted that the case would continue for at least 10 more years, so it comes as a surprise that the judgment was made so soon. Regardless, both sides appealed. Chevron appealed the ruling obviously because the really don't feel like paying out $8 billion. But the plaintiffs appealed because it was determined much earlier that $27 billion would be necessary to cover the cost of complete cleanup.

I'm willing to bet that realizing that they'd eventually have to pay something, Chevron instead opted for a much sooner ruling but at a much lower price. Nonetheless, no one really knows when the company's going to be paying the $8 billion. They called the ruling last week "illegitimate and unenforceable." >_> What do you guys think?

message 2: by ♥ Rachel♥ (new)

♥ Rachel♥   (i_got_a_jar_of_dirt) | 121 comments The business knows what they're talking about, especially in terms of money and how much they should pay. Clearly, they should be believed because they aren't just trying to make as much money as possible, they truly care about trying to save the environment, not polluting, and making the world a better place in general; the plaintiffs just want to make a profit. Duh.

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