Oil investors warned of environment risk
By Ed Crooks in London
Published: September 16 2008 03:00 | Last updated: September 16 2008 03:00
Investors in Royal Dutch Shell and BP are facing growing risks as a result of the companies’ involvements in Canada’s oil sands, fund managers and campaign groups will tell a meeting in London today.
Environmental groups such as Greenpeace and the WWF, as well as some socially-responsible investment funds including the Co-operative Asset Management, are warning that developing the oil sands is not only environmentally damaging but also financially risky.
They argue it is increasingly likely that a price will be put on carbon dioxide emissions in North America, threatening the viability of oil sands projects.
James Marriott of Platform, another campaign group, said: “Our argument to investors is that there is an investment reason not to go further into something that is full of risk.”
In the past five years, Canada’s vast oil sands reserves have attracted interest from all the big western oil companies, which have found themselves shut out or facing growing difficulties in other resource-rich countries.
Many companies have plans for a steep increase in their production from the oil sands of Alberta in western Canada.
However, production from the oil sands is difficult and costly. The oil must be separated from the sand, either by being mined out by diggers and then mixed with hot water, or by being heated with steam piped underground so it flows and can be pumped out.
The high energy use in these processes means it has much higher emissions than conventional oil production, according to a report by Greenpeace and Platform. The findings will be presented to today’s private meeting, to be attended by about 60 people representing leading investment institutions, organised by the UK Social Investment Forum.
The report cites estimates that conventional oil production generates an average of 28.6kg of carbon dioxide per barrel, whereas oil sands production generates 80kg-135kg per barrel; almost five times as much.
Both John McCain and Barack Obama, the US presidential candidates, are talking about setting a price on carbon dioxide emissions.
Shell said that although the extraction of oil in Alberta did create higher emissions, the total emissions from the oil, including its use by the customer, were only 15 per cent higher on average. It added that fuel produced from many conventional oil fields could have similar total emissions as fuel from oil sands.
Copyright The Financial Times Limited 2008
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
