Among the developments this week at Chevron’s raucous annual shareholder meeting—some surprising, some not so—was the oil company’s continuing refusal to settle an $18 billion lawsuit over oil pollution in Ecuador.
A letter from New York state comptroller Thomas DiNapoli and several investor groups urged Chevron to settle case, which has dragged on in various forms since 1993.
SAN RAMON -- Activists besieged Chevron at its shareholders meeting here Wednesday, in a gathering punctuated by shouts from attendees, warnings the event would be terminated early and interventions by security guards.
The acrimony at the annual meeting nearly obscured the company's discussion of a performance in 2010 that produced a gusher of profits and a jump in the oil giant's stock price.
"We had a tremendous year," Chevron's chief executive officer, John Watson, told the shareholders.
Yesterday, along with hundreds of millions of Americans, you likely settled up your taxes formally with the IRS. Incredibly, most of the biggest and most profitable finance and energy companies in the country are paying far less than their fair share. Last, month, Alex wrote about the most startling—and highest profile—incident involving GE, the country's largest corporation.
Girl Scout cookies seem innocent enough. Besides the sugar and calories, what harm could they possibly cause? Quite a bit it turns out. Girl Scout cookies use a whole lot of palm oil, the controversial ingredient that is inextricably linked to rainforest destruction, violations of Indigenous rights, and the extinction of endangered species like orangutans, tigers, elephants, and rhinoceros.
The US may lack a comprehensive climate and energy strategy to mitigate coal use and ramp up the use of renewable energy, but it does have the EPA and father time combining to put pressure on utilities to close down aging coal fired power plants now. The cost of a retrofit required by new national standards for nitrogen oxide and mercury emissions have influenced Virginia-based Dominion Resources to close the State Line Power Station, a plant first constructed in the 1920s.
An Ecuadorean judge ruled Monday in an epic environmental case that Chevron Corp. was responsible for oil drilling contamination in a wide swath of Ecuador's northern jungle and ordered the oil giant to pay $9.5 billion in damages and cleanup costs.
The amount — $8.6 billion plus a legally mandated 10 percent reparations fee — was far below the $27.3 billion award recommended by a court-appointed expert but appeared to be the highest damage award ever issued in an environmental lawsuit.
UPDATE: On October 11, 2012, Disney announced a comprehensive paper policy that maximizes its use of environmentally superior papers like recycled and eliminates controversial sources like those connected to Indonesian rainforest destruction. For more info, visit www.ran.org/disney.
Several protestors - two of whom were dressed as Mickey and Minnie Mouse - were arrested Wednesday in a short-lived demonstration after they chained themselves to a gate at Walt Disney Studios in Burbank.