WOW WHAT A DEAL.
Obama gives them billions to develop their own oil industry and now they plan on getting 11 million from Chevron and take over their oil works.
Boy Obama really IS out to destroy America. He is hell bent on bleeding the life blood of american industry like a vampire.
If I were Chevron....I’d pull out of Brazil, pronto.
We know what Obama’s gonna say. “Look at all the pollution I spared the waters off our coast by banning drilling here and giving Brazil a couple of billion dollars to encouraging drilling off their coast.”
I believe the formerly very Christian Brazil now has a lot of dealings with Muslim countries.
It appears Brazil is first trying to play in around in public opinion to see how it flies.
Chevron Responds to Reported Lawsuit By Federal District Attorney in Campos, Brazil.
http://www.chevron.com/chevron/pressreleases/article/12142011_chevronrespondstoreportedlawsuit.news
SAN RAMON, Calif., December 14, 2011 – Chevron Corporation (NYSE: CVX) said a Brazilian federal district prosecutor has told reporters that he will file a civil lawsuit against Chevron and other companies seeking a reported 20 billion reais ($10.7 billion) in damages, and an injunction stopping Chevron’s activities in Brazil. Chevron has not received any formal notice of this action. Chevron also has not received any instruction from the regulatory agencies with oversight responsibility for our activities in Brazil regarding suspension of our operations.
From the outset, Chevron responded responsibly to the incident at its Frade Field and has dealt transparently with all Brazilian authorities. The flow of oil from the source was stopped within four days and the company continues to make significant progress in containing any residual oil. Chevron has also continued to address the surface sheen, which is now less than a single barrel. There have been no coastal or wildlife impacts.
Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
Brazil Overreacts To Chevron Oil Spill With $11 Billion Suit
http://www.forbes.com/sites/christopherhelman/2011/12/15/brazil-overreacts-to-chevron-oil-spill-with-11-billion-suit/
excerpted...
Chevron’s spill at the Frade field was roughly 3,000 barrels, and there has been no impact on the coastline. Compare that with the roughly 5 million barrels spill at BP‘s Macondo blowout, which covered Gulf Coast beachers.
And vitally, no one died in Chevron’s spill, versus the 11 killed when the Deepwater Horizon blew up.
BP will likely end up paying around $10,000 per barrel spilled (assuming $50 billion in eventual fines and payments). Chevron and Transocean, if this $11 billion suit were to hold up, would be on the hook for more like $3.5 million per barrel.
...
Virtually no oil drillers will be willing to take the risks of drilling in Brazilian waters given even an outside chance of being saddled with such fines. Analysts at Tudor, Pickering & Holt, in a note this morning, figure that Chevron’s assets in Brazil are worth $4.2 billion, far less than the suit calls for.