Ecuador:An Attempted International Ripoff Dissolves in Farce

A stupid American movie star, an ambitious plaintiff's counsel, a corrupt leftist government and a U.S. oil company star in a morality play in which an attempted ripoff turns into a farce, and the good guys who stood their ground (Chevron) appear to be gaining ground and maybe even winning.The Wall Street Journal: What do you get if you cross a South American republic and crusading environmental groups with an American oil company?If that sounds like a joke, consider Ecuador, where American plaintiff attorneys and green activists are trying to wring Chevron for the biggest environmental verdict in history. In a case that's before an Ecuadorian court, Chevron faces a possible $113 billion verdict-it was a mere $27 billion until last week-to clean up a mess almost certainly created by the government's own oil company, PetroEcuador, which has presided over 1,200 spills in the past decade alone.The drama began in the 1970s, when Texaco and government oil company PetroEcuador drilled some...(Read Full Post)