Oil Change International is urging the Securities and Exchange Commission (SEC) to force oil companies to disclose reserves drawn from polluting oil sands, due to their above-average lifecycle emissions of greenhouse gases The SEC is considering to allow companies to include oil sands reserves for the first time. As the SEC mulls the change, OCI … Read More
Day: March 5, 2008
Iraq: US Senator Wants Oil Money Used for Rebuilding
The chairman of the U.S. Senate Armed Services Committee has said he may try to require Iraq to spend more of its oil revenue on reconstruction instead of investing the money in foreign banks. “What kind of an absurdity is it that we are paying for the reconstruction of Iraq with American taxpayers dollars if … Read More
“The Great Green Betrayal”
Environmental groups are accusing UK Prime Minster, Gordon Brown of the “Great Green Betrayal”. They are arguing that his government’s green policies are standing still or even going backwards. First, environmental taxation, which could help curb greenhouse gas emissions and much other pollution, is actually falling rather than rising – and falling substantially, a powerful … Read More
OECD: Remove Subisidies to Fossil Fuels Now
Tackling climate change and other environmental hazards is affordable but urgent action is needed to avert irreversible damage, the Organisation for Economic Cooperation and Development (OECD) said yesterday. The 30-nation OECD said possible environmental safeguards might slow world growth by just 0.03 percent a year — meaning that by 2030 the global economy would be … Read More
BP’s Top Brass Receive Huge “Hypocritical” Pay Awards
Let’s keep those snouts in the trough. People outraged by big oil salaries will choke on the news that despite BP’s recent financial troubles, with the company reporting a 22 per cent fall in profits, its top brass earned nearly $24 million. Lord Browne of Madingley, the former chief executive of BP, earned more than … Read More