April 14, 2007

Oil in the Oriente, Ecuador

Filed under: Chevron, Ecuador, Oil, Texaco, USA — kenjun @ 1:17 pm

Since oil was discovered in Ecuador’s Oriente in the 1960’s antiquated extraction practices have wreaked havoc on wilidlife and indigenous communities; the most contended case today is rainforest dwellers’ US $40-billion lawsuit against Chevron-Texaco for damages 30 times greater than those of the Exxon Valdez spill in Alaska. In the meantime, Ecuadorian government policy is trying to rein in foreign exploration, since 80% of oil profits leak abroad.

Some indigenous groups have formed agreements requiring all members to sign off on oil deals. One community traded land to an oil operation for a sustainable lodge that they now run themselves.

From: Lonely Planet


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