Chevron Corporation

The Takeaway’s Todd Zwillich was on the scene of the BP hearing to witness all of the theatrics. He says the hearing served as a venting session for public anger, as well as possibly the beginning of a new push for climate change legislation.

The stock market will be tested by the biggest batch of second quarter corporate profit reports. The Takeaway talks to Peter Morici, an economist and Business Professor at the University of Maryland, to discuss how the market is likely to fare.

Iin the 1970s and ‘80s, the oil company Texaco dumped billions of gallons of waste from its operations in the Ecuadoran Amazon into the forest. While the pollution remains the subject of a long-running lawsuit, the Ecuadoran government seems to be taking a lesson from the disaster. It says it may put several major Amazon oil deposits off limits to drilling if other countries help cover at least some of the lost revenue, in a deal that would also protect one of the richest ecosystems on Earth.

There was a demonstration today outside the corporate headquarters of Chevron; the oil company is under pressure from human rights activists who want the company to stop its business activities in Myanmar, Nigeria and Ecuador