Oil giant Chevron has agreed to pay a record-setting $13 million to two California agencies for past oil spills, but some of the company’s spills are ongoing.
The fines, announced Wednesday, come more than three years after an investigation by The Desert Sun and ProPublica found that oil companies are profiting from illegal spills and that oversight of the industry by California’s oil and gas division was lax.
At least one of Chevron’s spills is still running 21 years after it began in a Kern County oilfield, although a state spokesperson said it has been reduced by 98% “from its peak.” The amount spilled from the site, dubbed GS-5, is larger than the Exxon Valdez disaster.
The crude collected from GS-5 generated an estimated $11.6 million in just three years, The Desert Sun and ProPublica found. In fact, rather than stopping potentially deadly inland spills, known as surface expressions, oil companies have routinely tried to contain them with netting or pieces of metal and used more than 100 of them as unpermitted oil production sites in Kern and Santa Barbara counties.
The fine should have been $13 Billion instead.
Yeah, $13m for an oil spill seems like a prick on the finger.
Especially for a company that had profits of 21b in 2023
Profits or revenue?
Profit on full year 2023. Revenue was 200b
https://finance.yahoo.com/news/chevron-full-2023-earnings-misses-135227949.html
Damn a record fine and it’s fucking pennies to Chevron. They make $13 million of revenue every 35 minutes.
But it’s the biggest ever, therefore the peasants should feel much gratitude for their magnanimous government!
a record-setting $13 million
I don’t know what’s more pathetic- that they were fined $13 million or that’s it’s a record fine.
Somehow we can get a judge to put Trump on the hook for 3/4 of a billion dollars and Alex Jones for over a billion but Chevron? The amount of money they probably make in a couple of days if that.
How the hell was 13 million a record fine?
deleted by creator
And it still means literally nothing. Either high level execs go to jail or nothing will ever change.
In the fourth quarter of 2023 Chevron made $6.9 billion. Their fine is 0.19% of the money they made in one fucking quarter.
Annnndddd they made up that fine in a couple hours today.
“CalGEM got revenue too — the agency is completely funded by the industry it regulates, and this year will receive 67 cents for every barrel of oil produced”. Big problem.
For every oil spill they have to pay 25% of their profits from the last year or their projected profits from the current year.
It’s just record fines, Michael. How much could they cost? Ten dollars?
