ChevronTexaco Rejects Environmental proposals

ChevronTexaco shareholders are skeptical about becoming stewards of the environment:

Shareholders turned down a measure asking the oil giant to study how drilling could damage fragile ecosystems, including the Arctic National Wildlife Refuge. They also voted against spending more to clean up a stretch of the Amazon rain forest where Texaco once worked before its 2001 merger with Chevron.

Both measures failed by roughly the same margin, with 91 percent of shareholders voting against them in preliminary results. Last year, a similar motion on Ecuador also garnered 9 percent of the vote.

Chevron is currently considering building a liquefied natural gas facility off the coast of Camp Pendleton in Oceanside, CA.