Foreign oil-indigenouspeople-national government

5 billionbarrelsofoil

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Unformatted text preview: producing oil from Ecuador rain forest. Texaco claims $497m in profits from this 20 year project pumping more than 1.5 Billion barrels of oil. Toxic waste was stored in hundreds of pits dug next to wells. While operating trans‐Ecuadorean pipeline, spills from line released an estimated 16.8 million gallons of crude oil. In recognition of poor environmental practices, agrees to spend $40m to clean up 40% of oil wells. Clean up of 162 pits reported as complete by 1998. The remaining portion of the wells Texaco claims are the responsibility of Petroecuador. Texaco claims to have paid $25.3 billion in profits, taxes...
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