Source:
Los Angeles Times... "Oil companies should put their profits to good use," the company declares in recent newspaper ads. And in response to that laudable sentiment, Chevron's chief financial officer, Patricia Yarrington, says, "We agree."
... OK, then perhaps Chevron can tell us how exactly it's reinvested $7 billion into California. Was it in building new facilities and creating new jobs? Was it in developing alternative energy sources? Investing in solar companies? Or was it something as mundane as simply paying its taxes?
... When I spoke this week with Brent Tippen, a Chevron spokesman, he asked how detailed a response I wanted. Very detailed, I told him. Let the people of California know exactly where that $7 billion went.
... In other words, if a Chevron employee leaves a tip at a restaurant, and the restaurant server then spends that tip elsewhere, that's an example of Chevron reinvesting in California.
Read more:
http://www.latimes.com/business/la-fi-lazarus-20110513,0,1491025.column