Quick Hits: For Chevron, Environmental Destruction May Come At Cost
Brief scrutiny of today's headlines
The oil company, which claims it resolved the situation during the 90s, is accused of contaminating rivers crucial to the survival of the country's indigenous population.
Chevron contends the case has become politicized, saying the findings of independent environmental expert Richard Cabrera are erroneous. Cabrera told a court Chevron should pay between $7 and 16 billion. The company calls the lawsuit "extortion."
We noted earlier that outrage over Big Oil profits ignores the more significant issue of environmental neglect by companies engaged in oil exploration. Ecuador is just one of many countries promised economic development and community support for allowing oil companies to drill in its backyard, only to receive little material benefit.
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