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More Chevron Downside | Oil Watchdog

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More Chevron Downside

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Tue, Nov 27, 2007 at 5:08 pm

    More Chevron Downside

    11-28-07 by dugan

     

     

    Venezuelan strongman Hugo Chavez’s campaign to win Latin American hearts and minds has developed a new twist that should set hearts aflutter (not in a good way) at Chevron’s investor relations department. BBC reporter Greg Palast‘s investigative documentary on Ecuadoran peasants’ multibillion-dollar pollution lawsuit against Chevron aired tonight. Palast notes in a blog follow-up that Chavez is courting Ecuador’s new leftish leader, Alberto Acosta.

    Palast adds up the consequences:

    "[T]his week, the political planet tilts toward the natives as Alberto
    Acosta takes office as President of Ecuador’s new Constitutional
    Assembly. Acosta … gives Chevron a
    tongue-lashing:  ‘Chevron is responsible for environmental and social
    destruction in the Amazon.  And that’s why they’re on trial.’

    "Little Ecuador does not seem like much of a match against big Chevron –
    whose revenue exceeds the entire GDP of the Andean nation.   However,
    behind Little Ecuador is Huge Venezuela – and its larger-than-life
    leader, Hugo Chavez.   "Acosta," complains one local pundit to the BBC,
    "loves – LOVES – Chavez."   

    "And apparently, the feeling is
    mutual.  That is, Chavez sees in Ecuador’s new government, which won
    election campaigning to the tune of the Twisted Sister hit, We’re Not
    Gonna Take it Anymore, a new ally in his fight with George Bush over
    control of Latin hearts and minds – and energy.  

    "Chevron-Texaco’s
    largest new oil reserves are in Venezuela; Venezuela stands with
    Ecuador; and Ecuador now stands with its ‘affectados,’ the Indians and
    farmers claiming the poisons in their bodies trace right back to the
    Texaco star. "
     

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    One Response to “More Chevron Downside”

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