Harken Energy demands $57 BILLION from Costa Rican government [View All]

[arcos]

Yes... you are reading it right.

Bush's Harken Energy is asking the Costa Rican government for $57 billion as indemnification because of an oil exploration contract that was cancelled because of enviromental concerns. They are asking for arbitration from the International Centre of Settlement of Investment Disputes, part of the World Bank.

This all started about 10 years ago, when several "blocks" were auctioned for oil exploration, and a few years later, after the vocal opposition of environmental groups, politicians, church leaders, and local communities, the current administration decided to cancel the contract.

Now, Harken is asking for that HUGE amount of money... in Costa Rica, this money is equal to:

-11 times the total budget of the country for 2004
-15 times the total foreign debt of Costa Rica
-3 times the country's GDP

a few links:

Costa Rica rejects oil-drilling along Caribbean coast
http://www.iwc.org/worldanimalnews/we_news/2002/drilling_6_7.pdf
(May 17, 2002)

Today's article in La Nación (only available in Spanish):
http://www.nacion.com/ln_ee/2003/septiembre/27/pais1.html

Bush's former oil firm threatens sea turtles
http://www.enn.com/news/enn-stories/2001/04/04102001/oil_42929.asp


on edit: included another link.