The Insurgency Against Big Oil – » The Australian Independent Media Network

In 1991, senior ice researcher Ken Croasdale of Exxon’s Canadian subsidiary told an engineering conference that “any major development with a lifespan of say 30-40 years will need to assess the impacts of potential global warming.” This was particularly pertinent “of Arctic and offshore projects in Canada, where warming will clearly affect sea ice, icebergs, permafrost and sea levels.” Not wishing to bite the hand feeding him, Croasdale brightly considered the benefit a warming planet might have for company operations in the Beaufort Sea: “potential global warming can only help lower exploration and development costs.” This is no longer the case: the investors and funds are in revolt and such large oil companies are counting a different set of costs.

Source: The Insurgency Against Big Oil – » The Australian Independent Media Network

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.