NEW YORK (CNNMoney) -- Chevron has vowed to fight a multi-billion dollar judgment from an Ecuadorian court accusing the oil company of polluting the Amazon rainforest.
"The Ecuadorian court's judgment is illegitimate and unenforceable," said Chevron, in a press release Monday. "It is the product of fraud and is contrary to the legitimate scientific evidence."
But the organization Amazon Watch believes that justice already has prevailed.
Amazon Watch praised the court in Lago Agrio for ruling in favor of Ecuadorians from the Amazon region "who have spent the last 18 years seeking damages for crude oil pollution."
"Today's ruling in Ecuador against Chevron proves overwhelmingly that the oil giant is responsible for billions of gallons of highly toxic waste sludge deliberately dumped into local streams and rivers, which thousands depend on for drinking, bathing and fishing," said Amazon Watch, in a press release.
The organization said that Chevron "inherited the suit" upon purchasing Texaco in 2001.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.88%||3.83%|
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|15 yr refi||2.94%||3.05%|
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