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View Diary: Protecting Progress: South America’s Battle with Chevron (6 comments)

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  •  "People" are way too concerned about what the (0+ / 0-)

    oil companies "think". They piss and moan, but they're going to drill whenever the economics are in their favor, and right now everything is in favor. Brazil should protect its area, just like the USA should.

    "Yes, reason has been a part of organized religion, ever since two nudists took dietary advice from a talking snake." - Jon Stewart; The Daily Show

    by Uwaine on Wed Feb 22, 2012 at 05:31:11 PM PST

    •  Uwaine - I am certain that the contracts (0+ / 0-)

      to drill in Brazil will in the future have very detailed provisions for spills and what liability a spill might create. A $20 billion fine for the Chevron spill is outrageous and will not stand up once the case moves to an international court. Chevron will never pay that amount.

      "let's talk about that"

      by VClib on Wed Feb 22, 2012 at 06:56:47 PM PST

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      •  VClib: (0+ / 0-)

        The environmental damage is even more outrageous. And I'm not even discussing AGW.

        I am equally certain that the fine is well within the contract's "very detailed provisions for spills and what liability a spill might create."

        The Brasilian government watched what Chevron is doing across the pond in Nigeria and acted accordingly.

        Glad to see your priorities in order. Do you have a vested interest in Chevron?

        I'm actually working again, on a contract basis, with a 503 (c)3 nonprofit agency that serves minority and special-needs populations with their health insurance needs. I've found my calling. I hope this becomes a permanent job. Please wish me luck!

        by ozsea1 on Wed Feb 22, 2012 at 10:36:15 PM PST

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        •  ozseal - I own no Chevron or any other oil stock (0+ / 0-)

          But as the diary notes the spill was not significant and in my view the $20 billion fine did not reflect the damage caused by the spill. Even the largest oil companies can't risk fines of $20 billion for small spills. The fines have to be in some relation to the cost of clean up and environmental repair. If they aren't, none of the big multinational oil companies will drill in Brazil and they will be left with under capitalized drilling companies that will just declare bankruptcy if large fines are imposed.

          "let's talk about that"

          by VClib on Thu Feb 23, 2012 at 01:00:38 AM PST

          [ Parent ]

          •  I think the size of the prize and profit potential (0+ / 0-)
            If they aren't, none of the big multinational oil companies will drill in Brazil and they will be left with under capitalized drilling companies that will just declare bankruptcy if large fines are imposed.
            Will render your perpetual concerns moot.

            I'm actually working again, on a contract basis, with a 503 (c)3 nonprofit agency that serves minority and special-needs populations with their health insurance needs. I've found my calling. I hope this becomes a permanent job. Please wish me luck!

            by ozsea1 on Thu Feb 23, 2012 at 10:10:24 AM PST

            [ Parent ]

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