Thursday, March 28, 2013

Chevron Can Solve Its Argentina Problem: Pay The Judgment

Chevron's head of operations in Argentina has complained to the Ecuadorians, who recently won a $19 billion judgment against the company for massive oil contamination, that future exploration and drilling is threatened in Argentina because of a local court's decision to freeze its assets.

Efe News Service quoted Miguel Galluccio, Chevron's guy in the South American country, warning that the freeze resulting directly from Chevron's refusal to pay the Ecuador judgment "is absolutely detrimental to Argentina and could have a negative effect on investment."

Ok, Miguel, then convince your company to pay the judgment. You've got the money. It's that simple. Problem solved.

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