What’s Driving ChevronTexaco’s $500,000 investment in the GOP?
Jamie Court, author of Corporateering
December 10, 2003 -12:45 PM
ChevronTexaco’s recent half-million dollar gift to the Republican party after years of giving only small change may be fueling more than the rising star of former-Chevron-lobbyist-turned-Schwarzenegger-Chief of-Staff Patricia Clarey. Air pollution is on the rise and that could mean changing gas formulations to reduce emissions. Any modification in gasoline formulations to clean up the air would cost ChevronTexaco a whole lot more than a half mil because its refineries will have to come up to spec.
Documenting the poor air quality this summer, the South Coast Air Quality Management District (AQMD) has proposed to the Governor’s Air Resources Board a modification in gasoline requirements (RFG) to further reduce air emissions. The reformulation is needed to bring the AQMD in compliance with the statewide plan (State Implementation Plan) for pollution reduction. ChevronTexaco and the other oil companies hate the costs associated with changes. A discussion of the AQMD’s proposal and the State Implementation Plan is set for debate by the Board in January. What the Board does at the January 13th meeting will say something about what kind of green Arnold values more.
ChevronTexaco just announced its most profitable quarter since the company’s merger two years ago. With gas formulations on the table and pending regulations governing auto emissions under development, $500K is a cheap way to grease another year of record profits.
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