tar sands

BP's 4th quarter profits slump "a clear warning to investors"

Last edited 3 February 2009 at 2:57pm

Risky investment in tar sands and continued failure of alternative energy division threatens future profitability of oil major

3 February, 2009

BP's announcement of record profits masks major flaws in the company's long term investment strategy, according to analysts at Greenpeace and PLATFORM.

Strong growth recorded in the first half of 2008 was undermined by a collapse in profits during the final quarter, indicating a vulnerability to oil price fluctuations which will continue while BP remains wedded to an “oil at any cost” strategy.

Article tagged as: alternative fuels, biofuels, BP, energy, renewable energy, tar sands, wind power

Paradise saved - for now?

Posted by jossc — 2 September 2008 at 12:11pm - Comments

July 08: Greenpeace divers protesting against the planned oil shale mine

Greenpeace divers protesting against the planned oil shale mine

Australia has stepped back from the brink of madness and decided to shelve plans to mine oil shales right on the doorstep of the Great Barrier Reef.

Proposals to extract millions of tonnes of oil shales from the Whitsunday Islands threatened to drain precious water supplies, and to risk toxic leaching and air pollution - as well as increasing Australia's greenhouse gas emissions.

Fortunately, following a strong protest campaign led by the local Save Our Foreshore group, common sense has prevailed and last week Queensland premier Anna Bligh announced a 20-year moratorium, effectively ending the threat for the immediate future.

Article tagged as: co2 emissions, esperanza, great barrier reef, moratorium, oil shales, tar sands, whitsunday islands

Last edited 1 January 1970 at 1:00am
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Smell the sulphur, taste the toxins

Posted by bex — 9 July 2008 at 12:00am - Comments

Canada's Tar Sands project has been suffering from a bit of a PR problem, what with it being one of the most ludicrous and environmentally catastrophic schemes ever to have occurred to humankind and all.

(If you haven't heard of it yet, the plan is to extract crude oil from bituminous sand and clay in Northern Alberta. To produce one barrel of oil, up to four tonnes of rock and soil - plus the pristine boreal forest on top of it - need to be removed and four barrels of surface and ground water need to be used. The process is so energy intensive that tar sands produce up to five times more greenhouse gases than conventional oil.)

Article tagged as: canada, climate change, fossil fuels, oil, tar sands

Last edited 1 January 1970 at 1:00am
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