By Max Clarke
Ecuadorian inhabitants of the Amazon basin allege that Texaco, over the past 30 years, have been polluting the region with widespread adverse economic and health effects. Chevron, who bought Texaco in 2001, have recently been fined $8 Billion by an Ecuadorian court.
Hitting back against the ruling, Chevron Corporation (NYSE: CVX) today released the following statement:
In response to the ruling, Chevron issued the following statement:
"The Ecuadorian court's judgment is illegitimate and unenforceable. It is the product of fraud and is contrary to the legitimate scientific evidence. Chevron will appeal this decision in Ecuador and intends to see that justice prevails.
"United States and international tribunals already have taken steps to bar enforcement of the Ecuadorian ruling. Chevron does not believe that today's judgment is enforceable in any court that observes the rule of law.
"Chevron intends to see that the perpetrators of this fraud are held accountable for their misconduct."