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Proposed oil-spill settlement is criticized in Braziil

Federal prosecutors and Chevron are drawing criticism for a proposal under which the oil giant would pay R$311 million (US$149 million) in environmental compensation and oilfield-safety investments to settle two lawsuits seeking damages of R$40 billion ($19.1 billion) for two offshore oil spills. Richard Charter, a senior fellow at the U.S.-based Ocean Foundation: “The huge monetary discrepancy between the R$40 billion in damages sought by prosecutors and the R$311 million that Chevron offered to settle the case indicates that it will likely get a financial slap on the wrist for a major spill. This won’t likely caution Chevron or other oil companies in Brazil to be more serious about safety.” Full story

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