Chevron has added a news release to its Investor Relations website.
Title: Chevron Deplores Subterfuge, Investigates Options
Date(s): 18 October. 2010
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SAN RAMON, Calif., Oct. 18, 2010 (BUSINESS WIRE) -- Earlier today, a group of environmentalists cyber-posing as Chevron officials illegally spoofed Chevron's just-launched “We Agree” advertising campaign, confusing reporters (link). While such a campaign does exist, its official URL is Chevron.com/weagree. The advertisements released earlier today, at Chevron-weagree.com, were an elaborate subterfuge and must not be mistaken as real.
“Chevron does not take this attack lightly,” said Hewitt Pate, General Counsel for Chevron. “We invest extremely heavily in our campaigns, and we take them extremely seriously. Such actions can never be tolerated.” Though the exact cost of “We Agree” must remain confidential, Chevron routinely spends $90 million per year on US advertising alone.
Pate also noted that the environmentalists have made libellous allegations regarding Chevron's record and obligations in Ecuador and beyond. “Despite what some will say, we are not obliged to abide by decisions that Ecuadorian judges make or do not make. This is because we have binding agreements with the Ecuadorian Government exempting us from any liabilities whatsoever, granted in exchange for a $40 million cleanup of some wells by Texaco in the 1990s.”
“We have always upheld the best values of every country to which we are attached,” added Pate.
“This hoax is part of an ongoing effort to blame Chevron for 18 billion gallons of toxic waste dumped in the Amazon during drilling operations,” said Rhonda Zygocki, Chevron vice president of Policy, Government and Public Affairs. “This blame game continues despite Chevron's long-standing agreement with the Ecuadorian government which very obviously puts the issue behind us.”
Cautionary Statement Relevant to Forward-Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995.
Some of the items discussed in this news release are forward-looking statements about Chevron. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "schedules," "estimates," "budgets" and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Among the factors that could cause actual results to differ materially include the ability of the company to divest nonstrategic assets and realign business units according to plan; the length of time required to complete all activities related to the sale; changes in prices of, demand for and supply of crude oil, natural gas and petroleum products; actions of competitors; potential disruptio n or interruption of the company's operating activities due to war, accidents, political events, civil unrest or severe weather; government-mandated sales, divestitures, recapitalizations and changes in fiscal terms or restrictions on scope of company operations; and general economic and political conditions.You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Chevron Corporation
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