Chevron makes the big bucks. Why? Cause it’s in the big market. In 2008, the oil giant moved up in Fortune 500’s List of Largest Corporations in the World from 6th to 5th posting $263 billion in revenue- that’s $24 billion in profit. All of this amidst a world-wide economic “crisis?” From 2002 to 2008, Chevron has increased its profits annually for a total of a 2,100% change. However, in 2009 Chevron experienced a “drastic” decrease in its revenues posting only $10.5 billion in profits. Chevron remains the world’s second largest oil company and has maintained its position among Fortune’s largest corporations, so why is it averse to cleaning up its mess in Ecuador?
It is obvious that Chevron has made a lot of money off of the suffering of others. Lead attorney for the case of Ecuador vs Chevron, Steven Donziger, said that Chevron was able to increase its profits by $3 a barrel by disposing of the oil in the way they did. $3!?!? Over the course of Chevron’s operations in Ecuador, it pumped out 1.5 billion barrels of oil, which, according to Donzigers claims, would have yielded them an aditional $4.5 billion in profit. On the surface a great business decision. However, all of this came at the expense of helpless Ecuadorians. Since then, Ecuador’s natives have attributed 1,400 deaths to the pollution done by the improper disposal of 16 billion gallons of production water (a combination crude oil and water). Now Ecuador is seeking $27 billion in damages. So, was it worth it Chevron? $4.5 billion in profit while causing $27 billion in damages.