A corporation, no matter how large, should ideally possess a consistent, universal, set of ethical values, not one for each country. It seems to me that this is not being the case of ChevronTexaco. They are victims in Ecuador but they seem to be in bed with the victimizers in Venezuela and Argentina.
This apparent incoherence is reinforced by the fact that the leaders of Argentina, Venezuela and Ecuador share almost identical ideological postures regarding state control of the oil industry. This means that what happened to ChevronTexaco in Ecuador could also happen to them in Argentina and Venezuela. Chavez would not hesitate in retaliating against ChevronTexaco in Venezuela if they do not go along with the Ecuadorian extortion. In fact, Chavez already did this to Repsol, telling them that they better accept the takeover in Argentina with good grace or face measures against their Venezuelan assets.
Taking advantage of other’s misfortunes might give dividends in the short-term but is usually counterproductive in the long run. This reflection could be naïve on my part. I have never been a good businessman but I do believe that corporations, just as people, should have a heart.