There is a nice write-up on "Fair Trade" shops in Tacoma and Olympia in the Tacoma News Tribune:

So what exactly is Fair Trade?

Ewing: It’s saying that people who make the products should be paid a living wage for it, have livable working conditions and not use child labor or children working in factories.

Meyer: Fair trade includes specific value, such as being paid a fair wage or price in the context of the (producers’) culture or society. It’s coming up with a fair price that is sustainable for people. There’s an intent to make sure things are environmentally conscious in terms of how the materials are sourced and products made … and for there to be a transparency (in all aspects of the business) and to be accountable and responsible.

Why don't oil companies run like that?