Friday, March 2, 2012

BP Talks Settlement In Gulf, While Chevron Pouts

Former BP CEO Tony Hayward shocked the world with his remark about wanting "his life back" only days after 11 people lost theirs in the Gulf Coast oil disaster. But the company had the good sense to dump him, make peace with President Obama by ponying up $20 billion for a relief fund and start owning its mistakes -- mistakes that could cost BP up to $60 billion when all is said and done.

Contrast that with the way Chevron has handled the Ecuador disaster -- a disaster that wasn't an accident; that hasn't been cleaned; that started five decades ago, and the cost is only a fourth ($18 billion) of what BP will likely pay.

The Amazon Defense Coalition's recent press release compares the two disasters. See here

Says an Ecuadorian representative:

Once Chevron was found guilty and said it would never pay, Chevron became a fugitive from justice. Chevron CEO John Watson is creating a big problem for his company's shareholders because of his utter arrogance when it comes to Ecuador -- which is precisely the opposite reaction BP had with the Gulf disaster, where it is trying to deal with its obligations.

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