The president of Ecuador says he will join with residents of the Amazon rain forest in holding Chevron accountable for dumping billions of gallons of oily waste in the jungle over three decades. A lawsuit on behalf of 30,000 Amazon residents seeks $6 billion in damages for what is considered the worst oil-related environmental disaster in the history of the world, and possible the worst man-made environmental disaster with the exeption of Chernobol.
Plaintiffs in the case working its way through Ecuador’s courts argue that Chevron’s Texaco subsidiary dumped 18 billion gallons of oil-laden water in the Amazon between 1972 and 1992. Earlier this month Chevron let it be known it would not settle the case.
Correa, an economist educated in America who will tour the affected areas soon, said, ""We will not allow any more preying on our environment and our people." Chevron argues not that it did not cause environmental devastation, but that it had already cleaned up the mess and owed the residents nothing.
As Chevron tries to burnish its enviornmental credentials in the U.S. as a caring company that wants to save the earth, it should take its responsibility to the Amazon more seriously. Chevron has not merely violated its own internal code for corporate conduct, according the plaintiffs. Chevron has not disclosed to shareholders an accurate assessment of the company’s volcano-sized liability, according to those close to the case. $17 billion in profits in 2006 is not bad, but sending $6 billion back to the Amazon could sure put a dent in dividends.
It’s time for Chevron to come clean, in Ecuador and with its own shareholders. Correa’s entrance into the fight will guarantee a bigger spotlight as the case unfolds.