Chevron Human Rights Resolution Supported by Oblates
June 18th, 2009
Using a proxy from the Missionary Oblates, Michael Eisenscher of U.S. Labor Against the War addressed the Annual General Meeting of the Chevron Corporation on May about the company’s efforts to profit from Iraqi oil. The company profited, in particular, from a widely-opposed oil law that would give foreign corporations like Chevron almost complete control of Iraq’s oil industry, to the detriment of the rights of ordinary Iraqis.
Members of the True Cost of Chevron coalition presented their alternative annual report directly to Chevron management and CEO David O’Reilly (who disparagingly responded during the meeting that it “deserves the trash can”). Edited and painstakingly researched by Antonia Juhasz, with help from a coalition of over a dozen groups, “The True Cost of Chevron” highlights the tragic human consequences that are the flip side of the record profits Chevron collected in 2008. It can be downloaded for free at http://truecostofchevron.com/report.html
Chevron is finding itself increasingly in the spotlight over the harmful consequences of its operations, and shareholders are deeply concerned, as evidenced by the 28% support yet again this year for the resolution calling for a clear human rights policy. 28% is considered extremely good performance for a shareholder resolution of this type. Investors representing billions of dollars in Chevron stock have spoken up in support of greater social responsibility, and although the True Cost of Chevron’s coalition’s speakers inside the meeting were treated dismissively by CEO O’Reilly, Chevron is taking notice.