Texaco Left Toxic Legacy in Ecuador
A group representing more than 30,000 Ecuadoreans is suing Texaco in U.S. District Court, charging that the company dumped some 4.3 million gallons a day of toxic oil waste water into the Amazon. Texaco also left behind more than 300 open waste pits contaminated with heavy metals and other carcinogenic hydrocarbon compounds. The Ecuador plaintiffs have filed a complaint with the Securities and Exchange Commission alleging that Chevron has not adequately divulged the huge potential liability of the lawsuit to its shareholders. For those living in the shadow of Texaco's shining star, the company's toxic legacy in Ecuador will never fade. The SEC must insist that the company settle its liabilities in Ecuador as a condition for the merger.