Chevron Ordered to Pay 9.5 Billion

In a historic ruling Chevron Corp. has been ordered to pay $9.5 billion in damages and cleanup costs for oil drilling contamination in a Rhode Island sized section of Ecuador's northern jungle. Handed down by an Ecuadorean judge on Monday the ruling eclipses the $5 billion in damages that Exxon was ordered to pay to the victims of the Valdez spill (that number was later reduce to $507.5 Million by the U.S. Supreme Court). Many doubt that the plaintiffs, including indigenous groups who's fishing and hunting ground was severely contaminated, will be able to collect any of the reward. Chevron has pledged to...Read Full Article on Celsias