Home Peak Oil Facts News Commentary OilSlick Newsletter Stock Picks Special Reports Bookstore FREE TRIAL Subscribe
 

Plaintiffs File Emergency Appeal In Chevron Case

Printer Friendly Version

Ecuadorean plaintiffs in the controversial case against Chevron, the second-largest U.S. oil company, have filed an emergency appeal in a bid to block a U.S. judge from scrapping the $18.2 billion judgement a court in the South American country levied against the U.S. oil giant.

Earlier this year, an Ecuadorean court held California-based Chevron (CVX) liable for pollution damages allegedly committed by Texaco in Ecuador, the smallest OPEC member as ranked by production. Chevron acquired Texaco a decade ago and currently has no operations in Ecuador.

After the last 2nd Circuit hearing, a three-judge panel refused to stay the proceedings but invited the Ecuadorians to renew their appeal before the merits panel, according to Courthouse News. Chevron has been vigorously fighting the judgement, claiming Ecuador's legal system is rife with corruption and that the company was barred from presenting crucial evidence during legal proceedings in the country.

The plaintiffs are also trying to force U.S. District Judge Lewis Kaplan, the judge who granted an injunction against the plaintiffs collecting the $18.2 billion in damages, to recuse himself from the case. Kaplan had refused to step down and pointed out that the circuit has previously praised his handling of the case, Courthouse News reported.

The plaintiffs have pledged to find other avenues to collect the $18.2 billion judgement outside of the U.S.

Archives:20092010201120122013
Peak Oil Facts

Peak Oil - The term Peak Oil is very over used and misunderstood. Peak oil does not mean the end of oil production. Peak Oil, A Brief Description

Saudi Arabia - The largest oil producer on the planet is also the most secretive about their production and reserves. Saudi Arabia, Smoke and Mirrors

China - Much is said about China's growing oil demand with consumption in China up +250% over the last four years. China, A Bear on the Prowl

Oil Production - It is very tough to get accurate numbers on global oil production since OPEC chooses not to release any data. Global Oil Production

Oil Demand - Global oil demand is a very hard number to pin down but it is safe to say that demand will exceed supply very soon. Global Oil Demand

Bakken Shale - What about the trillions of barrels in the Bakken Shale in North Dakota? Bakken Shale

Read more about Peak Oil here: Peak Oil Facts




Copyright 2007 - 2013 OilSlick.com.
Do not duplicate or redistribute in any form.


Privacy Statement
Disclaimer
Terms of Service
Contact Us