John Watson would never admit it, but there's another reason it's not a bad idea for Chevron to hold on to its $22 billion cash pile. Simply put: When you run one of the world's biggest oil companies, stuff happens. Billions of dollars of stuff. In Ecuador in 2011 a judge levied an $18 billion judgment against Chevron in a decades-long case over whether or not the company is responsible for oil spills in the rain forest. "It's a fraud," says Watson.
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