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Posts on ‘August 24th, 2014’

Shell one of 5 Companies Al Gore Says Are Doomed

Screen Shot 2014-08-06 at 09.25.26“Royal Dutch Shell is another company with a doomed oil sands project, according to the Carbon Tracker Initiative. Its Carmon Creek project needs oil prices to hit $157 per barrel in order to be profitable. On top of that, Royal Dutch Shell is seeking to drill for oil in the Arctic, which has already wasted $5 billion of investors’ capital and would waste more money if drilling restarted.”

By John Donovan

According to an article by Matt DiLallo published by The Motley Fool on 23 August, former US VP Al Gore believes that the balance sheets of ExxonMobil, Royal Dutch Shell Plc, ConocoPhillips, Total SA and BP plc include $7 trillion of worthless ‘unburnable” carbon assets. 

Extract

“This unburnable carbon is the oil, gas, and coal that is still in the earth that, if extracted and burned, would push the globe over the edge in terms of climate change. Because this is an edge we can’t cross, it would suggest that the companies owning the assets are all but doomed.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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