Word: chevron
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...least one of Harvard’s investments flies in the face of the school’s commitment to human rights. In its most recent filing with the federal Securities and Exchange Commission, Harvard reported owning 172,246 shares of stock in Chevron Corp. If the University has held onto those shares—and there’s no reason to believe it hasn’t—they would be worth more than $15 million today. Chevron, meanwhile, owns a 28.3 percent working interest in a production and pipeline venture in Burma. By Chevron?...
...beneath the North Pole last month, Greenland had been eyeing its own potential reserves of oil and gas surrounding the island. Shrimp processing is the biggest contributor to the territory's GDP today, but big oil could offer a much shorter path to self-reliance. In September, Exxon Mobil, Chevron and Denmark's Dong Energy joined the ranks of those who have been looking for oil off Greenland's west coast, and last month the U.S. Geological Survey released an estimate that an area off Greenland's northeast coast could yield the equivalent of 31.4 billion barrels...
...More recently, the law has been deployed by labor groups and NGOs trying to punish and modify the behavior of U.S. companies abroad. More than three dozen cases targeting companies have followed the first case, filed in 1993, against Texaco (now Chevron). That class-action suit, which alleged that a subsidiary of Texaco had improperly disposed of waste while extracting oil from the Ecuadorian Amazon, was eventually referred to Ecuadorian courts. The majority of other suits have been dismissed on jurisdictional grounds or are still pending, though at least one has been settled out of court...
...Robert A. Mittelstaedt, an attorney with Jones Day in San Francisco who has Chevron as a client, thinks that's a terrible thing. He says the current use of the ATC has "twisted" the original intent because it could very likely precipitate, rather than prevent, international incidents. That's in line with the view of the State Department, which has complained that such lawsuits threaten U.S. foreign policy interests by deterring present and future investments...
...latest examples is Chevron Corp., which is building new offices in the northern suburbs, 40 miles north of the city across Lake Pontchartrain, and plans to transfer 550 employees from New Orleans to Covington by the end of the year. That would take well-paid people out of downtown New Orleans, a move that will impact the central business district's economy. "We made the decision in May, 2006, when our employees were making important housing decisions," says Qi Wilson, a Chevron spokesperson. The company, like many employees, decided the north shore offered better security should another hurricane strike, along...