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Tar sands edginess from Shell
Posted by christian on 25 January 2010.
There's a really interesting interview with the new CEO of Shell Peter Voser in the FT today, with an important development for tar-sands watchers. Shell, who are heavily involved in extracting oil from Canadian tar sands, are scaling back a planned expansion of their operations.
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Shifting Sands: How a changing economy could bury the tar sands industry
Publication Date:
27 Jul 2009Body:
This report, co-authored by PLATFORM, Greenpeace and Oil Change International, points to a series of trends emerging from the growth forecasts of OPEC, the IEA and the EIA as evidence that the oil market could be undergoing a permanent structural shift.
The authors assert that previous oil demand growth forecasts have seriously underestimated the potential impacts of government policies aimed at securing energy supplies, reducing price volatility and tackling climate change. This ‘triple crunch’ of political imperatives has led to a widespread dampening of expectation among the world’s leading energy analysts.
Shifting Sands is the second update to the Rising Risks report.
PDF 2:
After 100 years, is BP going senile?
Posted by jossc on 5 May 2009.
Getting to be 100 years old is a proud milestone, but it usually comes with some complications - which can include a loss of critical faculties. As BP directors and shareholders meet to celebrate the company's centenary in London this evening, they'd be well advised to seriously question whether BP's massive investment in Canadian tar sands (pictured here) is evidence of senility setting in.
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Tar sands investment and 'oil at any cost' threaten BP's future profitability
Posted by jossc on 3 February 2009.
Alberta, Canada - contaminated water from tar sands oil production fills a 2 km wide 'tailings' pool © Greenpeace
Last month our Emerald Paintbrush award presented to BP highlighted how far the company, which previously styled itself as going 'beyond petroleum', has moved back to its traditional profit source at the expense of its alternative energy division, and most likely its long-term profitability.
Investors may have been patting themselves on the back yesterday as BP posted record profits for 2008, but they should be wary - a quick trawl through the figures reveals major flaws in the company's long term investment strategy. Massive profits during the first half of the year (when oil prices reached over $100 per barrel) were undermined by a collapse in the final quarter, when prices fell back to around $40 per barrel.
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BP is 'back to petroleum'
Posted by tracy on 5 February 2008.
Tar sands in northern Alberta
A few years ago, BP spent about US$200 million to rebrand the company as beyond petroleum - to convince us that the company was going green, investing in renewable energy, and cared about climate change.
Statements by former Group CEO Lord John Browne called for research into the effects of his industry on climate change, and effectively got the company blackballed by the American Petroleum Institute.
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