STOP: Stop Tar Sands Operations Permanently

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Posts Tagged ‘big oil’

As Prices Soar so do Big Oil’s Profits

Posted by mhudema on July 31, 2008

Should the Oil Industry Make a Profit?

As Gas Prices Soar, the Oil Industry Rakes in Billions in Profits

By SCOTT MAYEROWITZ
ABC NEWS Business Unit

April 30, 2008—

The price of gasoline has never been higher, with many Americans feeling the pinch on their wallets. But not those who own stock in oil companies.

As soaring gas prices have turned into massive profits for big oil, the shareholders of these companies are cashing in. And if you own a mutual fund, that may even be you.

BP yesterday reported a staggering 63 percent surge in first quarter net profit to $7.6 billion, and Royal Dutch Shell posted a 25 percent increase to $9.1 billion. Last week, ConocoPhillips reported a 16 percent rise in net income to $4.1 billion.

The earnings bonanza is expected to continue when ExxonMobil and Chevron report earnings later this week.

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Tar Sands Risk Climate Catastrophe

Posted by mhudema on July 30, 2008

New sources of fossil fuel ‘risk climate catastrophe’

Russian oil plant

An oil plant: oil giants plan to explore more ‘unconventional’ sources

Oil giants including Shell and BP plan to extract fossil fuels from new sources that could trigger catastrophic climate change, a report warns today.

Pumping out tar sands and oil shale from reserves in the US and Canada is becoming increasingly attractive as oil prices soar, researchers say.

But refining the material is eight times more polluting than processing conventional oil, according to a report by WWF and Co-operative Financial Services.

Nonetheless, Shell and BP are planning to invest £62billion in ‘unconventional’ fuels by 2015, warns the study.

‘Unconventional fuel sources may seem attractive in the short term but ultimately the environmental and economic costs are unthinkable,’ said James Leaton of WWF-UK.

If the estimated 1.1trillion barrels of recoverable fuel in Canada and the US were extracted, it would release 980billion tonnes of carbon dioxide, it is claimed. This could push atmospheric CO2 levels well past the point believed to trigger dangerous climate change and mass extinction of species.

Mining tar sands – a mix of oil, water, sand and clay – will also damage substantial areas of Canadian forest which act as carbon sinks.

WWF and the Co-op are calling for a global halt to licensing the fuels and legislation to stop them being sold here.

But a BP spokesman said: ‘Oil sands represent a significant untapped resource from a politically stable country.’

And a spokeswoman for Shell said: ‘Supplies of “easy oil” cannot keep up with the demand growth.

‘Society has little choice but to add other sources of energy, including “unconventional” fossil fuels like oil sands.’

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Stop the Tar Sands

Posted by mhudema on July 30, 2008

Oil: Campaigners seek an end to production of CO2-intensive ‘unconventional fuels’

· Ethical investment groups try to halt tar sand projects
· Oil firms to spend $125bn to exploit new sources

Shell, BP and other oil companies at the centre of the tar sands revolution in Canada are facing a backlash from the Co-operative and other members of the ethical investment community determined to bring a halt to these operations for environmental reasons.

A joint report from Co-operative Investments and the wildlife charity WWF released today will be followed up in September by a meeting of the UK Social Investment Forum (UKSIF) to press for an end to this carbon-intensive activity.

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Big Money, Big Worries

Posted by mhudema on July 30, 2008

Canada Has Green Concerns Over Oil Goldmine

Environmentalists Nervous About Profitable Northern Oil Production

July 28, 2008—

The earth beneath Fort McMurray’s pine and spruce trees holds as much oil as the United States, Russia and the United Arab Emirates combined.

In this booming Alberta, Canada, town, the rush to get that oil becomes obvious a couple hundred miles north of Edmonton, where the forest disappears into the largest industrial zone in the world, crawling with some of the largest trucks ever made.

Oil

Canada’s oil from sand production brings in big money.

(ABC News/Getty)

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Disaster Capitalism: State of Extortion

Posted by mhudema on July 17, 2008

Wednesday, July 16, 2008

President Bush As Extortionist in Chief?

Disaster Capitalism: State of Extortion

By Naomi Klein

Once oil passed $140 a barrel, even the most rabidly right-wing media hosts had to prove their populist credo by devoting a portion of every show to bashing Big Oil. Some have gone so far as to invite me on for a friendly chat about an insidious new phenomenon: “disaster capitalism.” It usually goes well-until it doesn’t.

For instance, “independent conservative” radio host Jerry Doyle and I were having a perfectly amiable conversation about sleazy insurance companies and inept politicians when this happened: “I think I have a quick way to bring the prices down,” Doyle announced. “We’ve invested $650 billion to liberate a nation of 25 million people. Shouldn’t we just demand that they give us oil? There should be tankers after tankers backed up like a traffic jam getting into the Lincoln Tunnel, the Stinkin’ Lincoln, at rush hour with thank-you notes from the Iraqi government . Why don’t we just take the oil? We’ve invested it liberating a country. I can have the problem solved of gas prices coming down in ten days, not ten years.”

There were a couple of problems with Doyle’s plan, of course. The first was that he was describing the biggest stickup in world history. The second, that he was too late: “We” are already heisting Iraq’s oil, or at least are on the cusp of doing so.

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Toxic Tailings

Posted by mhudema on July 11, 2008

Toxic tailings from the tar sands

Alberta Environmental Resources Conservation Board’s new directive worse than useless.

Dateline: Monday, July 07, 2008

by Ricardo Acuña for Vue Weekly

The Alberta Government, along with their friends in the oil industry, have recently embarked on a major campaign to educate Canadians and Americans about the fact that extraction of oil from Northern Alberta’s bituminous sands is actually an environmentally friendly and ecologically sound process.

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Big Oil Comes Back to Iraq

Posted by mhudema on July 8, 2008

Big Oil poised to make triumphant return to Iraq

“Anyone who thinks the invasion of Iraq accomplished nothing probably isn’t sitting inside the boardrooms of some of the most powerful companies on Earth.”

Toronto Star July 5, 2008 // Linda McQuaig
Big Oil poised to make triumphant return to Iraq
Small service contracts announced last week are a step toward major development deals

When Big Oil excutives and U.S. Vice-President Dick Cheney met for secret energy talks in the spring of 2001, one subject that weighed on all their minds was the potential loss of Iraq’s bountiful oil reserves. After more than a decade of hostile U.S.-Iraqi relations, Iraqi dictator Saddam Hussein had negotiated deals with oil companies from a range of countries, including Russia, China and India, to develop Iraq’s largely undeveloped reserves. That meant U.S. oil companies were to be denied a stake in developing one of the last oil bonanzas left on Earth. It also meant that the U.S. risked being denied access to this vast new source of petroleum the commodity it considers essential to its continued status as an economic and military superpower. So it wasn’t surprising that Cheney’s energy task force set up with urgency within weeks of the Bush administration taking office took great interest in a document called “Foreign Suitors for Iraqi Oilfield Contracts.” The document (eventually made public after a lengthy court battle with the Bush administration) included a detailed breakdown of Iraq’s 97 oil fields, listing in each case the foreign company that was negotiating a development contract with Saddam, and the status of those negotiations. But, according to the narrative presented by the White House and rarely challenged by the media, none of this mattered to Washington’s strategic planners: the fact that Iraq’s vast oil reserves were about to slip into the hands of America’s rivals and Big Oil’s competitors allegedly played no role in the administration’s decision to overthrow Saddam two years later.

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NASA’s leading scientist says Big Oil fostering climate denial

Posted by mhudema on June 30, 2008

NASA’s Leading Climate Scientist Says Corrupt Politics is Covering Up the Truth About Global Warming

James Hansen, head of NASA’s Goddard Institute for Space Studies in New York, is widely respected as one of the world’s leading climate scientists. He says the public is being lied to and duped by special interest groups about the severity of the threat that global warming poses. He also claims that policy makers and big oil executives are sacrificing public interest to line their own pockets.

“The problem is not political will, it’s the alligator shoes – the lobbyists. It’s the fact that money talks in Washington, and that democracy is not working the way it’s intended to work,” says Hansen.

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Tar Sands Travel

Posted by mhudema on June 27, 2008

Greenpeace has launched its own website to counter the greenwashing they say is being done by the Canadian Association of Petroleum Producers (CAPP).

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The propoganda battle over the tar sands in Alberta heats up as Greenpeace launches a new website. The Canadian Association of Petroleum Producers (CAPP) has begun a new campaign to coincide with Alberta’s “rebranding” of the tar sands, and the site, TravellingAlberta.com, is being launched as a response to that effort.

TravellingAlberta.com is counting on humour to communicate a very serious issue to Canadian and international audiences about the destructive nature of the world’s largest industrial development.

For example, the site showcases showcases some of the unique attractions that await travelers to Alberta: Black sand beaches, toxic lakes and clearcut forests. Until now, this kind of vacation destination was merely the stuff of science fiction; but now, it can be experienced first-hand.

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Crude Love and No More Lies

Posted by mhudema on June 15, 2008

PAT DONNELLY
The Gazette

Love in the Alberta tar sands – between polar opposites. She drives a truck as big as an apartment building.

He’s a city-bred environmentalist who wants to stop the whole project and put people like her out of a job. Yet somehow, they work out their differences.

Sounds like a great scenario for a new Canadian movie. But at this stage, Crude Love is a play written and performed by Gillian and Russell Bennett, making its debut at the St. Ambroise Montreal Fringe Festival. It’s but one of many premieres at the Montreal Fringe, which owns the first date on the fringe circuit calendar.

The Bennetts are no strangers to Montreal, or the circuit, which includes fringes in Ottawa, Toronto, Hamilton, London, Winnipeg, Regina, Saskatoon, Calgary, Vancouver, Victoria – and, of course, Edmonton, the grandaddy of them all.

Gillian Bennett, 30, grew up in Edmonton. Russell, 35, was raised in Toronto. They both studied acting in New York, at the same school. But they met later, in Vancouver, where they now live – sort of. This summer they gave up their apartment and put their stuff in storage before heading out on the road. This is their first touring season as a married couple, having tied the knot on Tofino Beach last summer.

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