Tuesday, October 9th was designated (I still can’t figure out exactly by whom) a day of protest against Chevron (CVX – $92.30) and its paying of royalties to the regime in Burma (Myanmar).
Information about the protest and how you can participate be found at this Chevron Protest Blogspot posting.
Amy Goodman explains why she thinks the protest is necessary and how it might help at her Truthdig blog. While I agree with her sentiment, I think I’ve found a better way to remain engaged.
Chevron defends their involvment in Myranmar (Burma) and deliniates some of what they are doing to support NGO’s trying to help the situation. They also state their support for the people of Burma clearly, “Chevron supports the calls for a peaceful resolution to the current situation in Myanmar in a way that respects the human rights of the people of Myanmar.” I’d like to help them follow through on that support.
So what am I going to do?
I’m not selling my shares. I have a significant profit (average cost basis = $58.29) in the shares over the last few years and don’t really want to sell this year and add to my tax bill. And although I think much of the profits from the oil run up (and dollar decline) have been made, Chevron shares still represent good value. I’m holding on and working with management.
I own approximately one seven-hundred-thousandth (1/700,000) of Chevron. Now that may not seem like a lot but it is more voice than I have in determining the President of the United States, Governor of New York or even the Mayor of New York City. I’m going to use my voice as a real constituent of Chevron to support this protest.
I have decided to write to David O’Reilly, the CEO, and voice my support for any efforts the company is making on behalf of the people and democracy in Burma. I will voice my concern that Chevron is not doing enough with its financial leverage to make life difficult for the current rulers. I will also let him know that, as a shareholder, I approve of his risking a little of my profits to make a difference for the people of Burma. FInally, I will let Chevron know that I do not plan on selling my shares and will be voting in support of any shareholder resolutions to that effect.
Disclosure and Confessions:
I own Chevron (CVX) Shares. I have a car and it uses gasoline. I support increasing taxes on all greenhouse gas producing activities. I do not engage in carbon neutrality, as I feel that it promotes waste and subjects well intentioned people to abuse. I support taxing greenhouse gases and using the money to reduce income and social security taxes on the middle and low income workers who would be hardest hit by carbon taxes.
Burma vs. Myanmar?
I have decided to refer to the country in question as Burma instead of Myanmar. The name Myanmar was adopted by the current military dictatorship. Once a democratically elected government decides to rename the country I will go with that name.
In addition to the CEO, I’ll copy Chevron investor relations:
Phone: +1 925-842-5690
Email: [email protected]
Jim Aleveras, General Manager
Bill Clutter, Assistant Manager, Phone: +1 925-842-3526