Chevron agrees to a $550 million settlement with California city

Richmond, California, secured a half-billion dollar settlement from Chevron after proposing a ballot tax on barrels produced at its local refinery, setting a potential model for other cities.

Will McCarthy reports for POLITICO.

In short:

Chevron offered a $550 million settlement to avoid a proposed barrel tax in Richmond, California.
The settlement could fund Richmond's budget for ten years and encourage similar actions in other refinery towns.
Activists view the deal as a mixed victory, while some cities are already considering similar initiatives.

Key quote:

“The community of Richmond has created a movement that will echo across the nation.”

— Eduardo Martinez, Mayor of Richmond

Why this matters:

Cities across the U.S. could use Richmond's strategy to pressure large polluting industries into settlements. This approach may empower local governments to secure funding while holding corporations accountable for environmental impacts.

www.politico.com

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