Things just keep getting worse for Chevron. First, a deepwater drilling mishap off the coast of Brazil last month caused thousands of barrels of oil to spill into the Atlantic, which only after some dodging did Chevron take responsibility for, followed by Brazil’s petroleum agency deciding to suspend the company’s drilling rights altogether. And then there are the fines which could end up costing Chevron close to $100 million. But lo, it gets worst yet. Today, the oil giant admitted that the situation is far from resolved as many had assumed. That’s right, the leak continues, and Chevron’s not sure when it can be stopped.
Weeks after the spill began in early November, loosing an estimated 110,000 gallons in the waters 230 miles off the coast of Rio de Janeiro, Chevron moved to plug it with cement. Still, several hundreds of gallons continued to trickle up from the sea floor.
And now, nearly a month after their initial fix was put in place, Chevron Brazil’s environmental supervisor Luiz Alberto Pimenta Borges told leaders that oil is still leaking, and that his company isn’t sure quite how or when it can be capped.
But remember folks, it’s “regulations” in the U.S. that is hurting these companies.