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