I think the fine is unreasonable (and I answered no to your poll) but not because of amount. I think amount maybe just right but the fine should be directed not towards company but its manging directors. Anything else will be passed on shareholders and considering profits of oil companies they do not care about one off fine of 35millions, why should they??? If on the other hand bosses of the company landed in jail for say 2 months or had to part with some of their property that would teach them a lesson they urgently need.
I work in the petroleum industry. I am aware that Brazil would love to have Petrobras, the state owned oil company, harvest and exploit all of it's resources. They simply do not possess the know-how and muscle to do it on their own, in the time needed by the Brazilian government. With this in mind, they will not thrash a foreign company too hard. The vessel I work on is contracted to Petrobras, working for their interests in the Gulf of Mexico. By the looks of it, they need all the help they can get.
Readers' comments
The Economist welcomes your views. Please stay on topic and be respectful of other readers. Review our comments policy.
Sort:
This question gives an inaccurate statement. Brazil wants to fine Chevron 20 billions reals, or $10.7b USD. That fine is outrageous.
In fact, the cost of charges are low, but better than nothing.
I think the fine is unreasonable (and I answered no to your poll) but not because of amount. I think amount maybe just right but the fine should be directed not towards company but its manging directors. Anything else will be passed on shareholders and considering profits of oil companies they do not care about one off fine of 35millions, why should they??? If on the other hand bosses of the company landed in jail for say 2 months or had to part with some of their property that would teach them a lesson they urgently need.
I work in the petroleum industry. I am aware that Brazil would love to have Petrobras, the state owned oil company, harvest and exploit all of it's resources. They simply do not possess the know-how and muscle to do it on their own, in the time needed by the Brazilian government. With this in mind, they will not thrash a foreign company too hard. The vessel I work on is contracted to Petrobras, working for their interests in the Gulf of Mexico. By the looks of it, they need all the help they can get.