EIA News says, "Ecuadorian Court Rules Chevron Must Pay $9 Billion for Oil Pollution A judge in a small jungle town in Ecuador ordered Chevron to pay more than $9 billion in damages, finding the energy giant responsible for the oil pollution that has fouled a stretch of land along Ecuador's northern border. (washingtonpost.com)".
The returns are not yet in. The opinion of a judge in a small town may not be indicative of the attitude of the Ecuadorian federal government. We must wait until this develops.
It could be good or bad news for the US. If the Ecuadorian federal government supports the small-town judge, Chevron will likely reduce any drilling activity in Ecuador. Chevron will then be available for jousting with President Obama and Energy Secretary Chu for drilling permits in the US.
Conversely, if the Ecuadorian federal government extends a welcoming hand to Chevron, Chevron will then not be available for US drilling.
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