Seeking Alpha
Big Oil’s Very Bad Wednesday
May 30, 2021 11:55 PM ETBNO, CVX, DBE…
Summary
- Those paying attention to the market chatter this week may have heard the phrase “Black Wednesday” pass the lips of pundits who study the fossil fuels industry, though the events didn’t result in any kind of immediate panic-selling by investors of energy shares.
- At the annual shareholder meeting of Exxon Mobil, the company ceded at least two seats on its board of directors to a climate activist group called Engine No. 1.
- At Chevron’s general meeting, shareholders voted on a measure to set strict emissions targets from the products it sells.
- A Dutch court in The Hague, Netherlands, ruled that Royal Dutch Shell must reduce its carbon emissions by 45 percent by 2030 against its 2019 levels – on an absolute basis, which is stricter than the carbon intensity targets that the company prefers to use as its benchmarks. Black Tuesday 1929 turned out to be a big deal.
A Dutch court in The Hague, Netherlands, ruled that Royal Dutch Shell (RDS.A, RDS.B) must reduce its carbon emissions by 45 percent by 2030 against its 2019 levels – on an absolute basis, which is stricter than the carbon intensity targets (amount of carbon per megajoule of energy sold) that the company prefers to use as its benchmarks. That’s not a suggestion – it’s a demand backed by law.
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.
