Home | About | Donate

Another Sign Just Came in That Tar Sands Operations Are on Life Support


#1

Another Sign Just Came in That Tar Sands Operations Are on Life Support

Andrea Germanos, staff writer

Royal Dutch Shell announced Thursday that it is selling off the majority of its tar sands assets, as its chief executive noted dwindling "societal acceptance of the energy system as we have it."

Of the $7.25 billion deal with energy company Canadian Natural, Shell said in a statement that it will "sell all of its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60 percent to 10 percent."


#2

Seeing photos of the complete destruction of the land, water, vegetation, wildlife wrought by the Tar Sands Operations (and the widespread fires ignited by same), makes me weep. Everyone should watch the documentary on TED: https://www.ted.com/talks/garth_lenz_images_of_beauty_and_devastation

and the corresponding text: https://www.ted.com/talks/garth_lenz_images_of_beauty_and_devastation/transcript?language=en

Shell is simply cutting their losses and running on to yet another environmentally destructive and life-killing venture (while producing PR spots extolling their commitment to the greening of the planet and well-being of human lives)...the buyers will continue the desecration. And the self-proclaimed emperor of the US throws his weight behind supporting ongoing unlimited expansion of pipelines to carry the highly combustible, poison threatening all life in their paths.

And what happens to all the man-made toxic waste ponds the size of lakes whose containment consists of bulldozed earth walls? The same thing that all the abandoned mining operations left behind, to be sure. (Hey, maybe Mr. environment-destoyer himself, Scott Pruitt could provide a solution to the leftover toxic water problem....)

You will weep, too.


#3

Lee Iaccoca spoke eloquently about the way American corporations stubbornly cling to old fashioned money making approaches, even when the world has zipped on by them and thriving on new technologies. This is the same principle: DAPL and Keystone XL are projects doomed to garner huge losses for investors, because the oil they will (or may not) ship is at this time just adding to the unsold glut and may never be sold at va profit. Some people really seem to struggle to envision anything other than what they are used to.


#4

Isn't it cute how the Shell Chief Executive stated they were closing tar sands operations due to, "dwindling social acceptance of the energy system as we have it." Truth is, oil isn't over a hundred bucks a barrel anymore. If it was they wouldn't have closed it in a million years or until the oil ran out, which ever came first.


#5

Hey, let the poor guy save a little face. Don't make him say 'I was so stupid to stake my career on a finite resource!'


#6

Yeah, and if Royal Dutch Shell was really smart, they would roll that $7.25 Billion into solar and wind power here in the Good Ole USA, and go head to head with the Coke Brothers.

They might be able to start an energy revolution.


#7

Thank you for the link to the Garth Lenz TED Talk on the True Cost of Oil.


#8

My heart smiles at the thought of the DAPL continuing to bleed money in order to finish their Standing Rock Snake, only to find NO takers for its pipeline service once completed.


#9

Unfortunately, both DAPL and Keystone XL are about providing new conduits for the same oil over basically the same routes. DAPL is meant to replace carrying the oil by trucks and trains. There's a working Keystone pipeline; XL is meant to be a more direct route. But both are taking oil to be refined and contribute to US status as a net exporter of gasoline. It has nothing to do with oil "security" or self-sufficiency.


#10

You are welcome. Please share with others. Namaste :relieved:

PonyBoy
March 11

Thank you for the link to the Garth Lenz TED Talk on the True Cost of Oil.


Visit Topic or reply to this email to respond.


In Reply To
Seatower
March 10
Seeing photos of the complete destruction of the land, water, vegetation,
wildlife wrought by the Tar Sands Operations (and the widespread fires
ignited by same), makes me weep. Everyone should watch the documentary on
TED: https://www.ted.com/talks/garth_lenz_images_of_beauty_and_devastation
an…


#11

Just from a market view, totally ignoring the "Life of the Entire Living Planet"

The Market Pressures are really coming to bear on so many fronts, that the affect is orders of magnitudes higher.

By the time the companies are writing off 20 Billion, it was already gone long ago.
they have exhausted all other efforts and see no relief from dumb trump.

The banks won't count it as asset, the market has degraded to such an extent that it's futures have permanently dissolved. Their books are going upside down.

The wave of nations pushing renewable is such that as a product it will never make a profit. Beside the fact the the market is so over stocked in reserves, that nobody is even pumping at capacity.

DAPL type projects are on the same curve, those folks are in for some industry killing losses. Think Peabody Energy, the world's largest private-sector coal producer, filed for bankruptcy on Wednesday in a U.S. court, citing "unprecedented" industry ..... Building for a dissolved market....wake up.

And why one wouldn't read the writing, reinvest in TESLA style technologies as a industry titan moving assets to the next wave of profits is truly stupid.

Rather like selling horseshoes into a car market. Even trump can't turn back this curve.

Then again, if they were truly intelligent, they would really be thinking about
"The Life of the Entire Living Planet"


#12

Perhaps the idea that the oil companies are on their last legs is a little pre-mature: http://abcnews.go.com/Business/story?id=5503955&page=1

They don't care one way or the other about the long term sustainability of the planet - but they do think quite a bit about the long term sustainability of their profits. Oil companies will soon be promoting rapid charge equipment at their stations to electric car owners; using their expertise to set up wind farms off shore; buying up as many battery companies as possible to control that market; etc. They will look at every bottle neck in the market and seek to control it. They will then get the government to give them tax advantages for their monopolistic practices. Our price for fuel will go down and their profits will go up because they will be taking an essentially free commodity and selling it back to us for our "convenience."


#13

To an extent, that's business, isn't it? I don't mind helping the fossil companies convert, as long as the world gets converted.


#14

unfortunately, capitalism is an inefficient way for that to happen on the appropriate time scale. We need the conversion now - but the shifts simply based on maximizing profits will be a couple decades too late.


#15

Perhaps, but I don't see it happening without capitalism.


#16

That's workable as long as there's a regulatory mechanism available that allows for taxing for the true cost of the resulting pollution (or other incentives that make the balance of the profit to be made from protecting the earth much higher than the profit to be made from polluting it). Of course, such regulations are what the right likes to call "socialism."


#17

The headline I would love to see:
ANOTHER SIGN THAT FOSSIL FUELS ARE ON THE WAY OUT.