Photo essay: Oil on Lubicon Land

Posted by bex — 23 June 2011 at 10:32am - Comments

From deepwater drilling in the Arctic to the Tar Sands in Canada, oil companies are going to ever greater extremes to squeeze the last drops of oil from the Earth. And where oil companies pile in, environmental destruction follows.

After 100 years, is BP going senile?

Posted by jossc — 5 May 2009 at 11:35am - Comments

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.

Tar sands investment and 'oil at any cost' threaten BP's future profitability

Posted by jossc — 3 February 2009 at 3:40pm - Comments

Alberta, Canada - contaminated water from tar sands oil production fills a 2 km wide 'tailings' pool

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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