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Daily Archives: July 19, 2009

Chevron owes more to Richmond AND California

19 Jul

Writing in the San Francisco Chronicle, Antonia Juhasz, the director of the Chevron program at Global Exchange in San Francisco, shows how Richmond, California and the entire state of California have not benefitted from Chevron’s recent soaring profits (Richmond is the site of Chevron’s oldest oil refinery). Chevron’s profits have increased every year since 2002 “by an astounding 2,100 percent”. “By revenue,” points out Juhasz, “Chevron is the largest corporation in California, the second-largest U.S. oil corporation and the third-largest corporation in the nation.” There are only 36 countries on the planet that have GDPs larger than Chevron’s “$263 billion in 2008 revenues.” Read the rest of this entry »

 
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Posted by on July 19, 2009 in California & local politics, Capitalism, Economy

 

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