The government’s deep sea oil programme is failing. There I said it. Like other polluting businesses around the world, the deep sea oil industry has been stunned by the seismic shift in investor support for clean power.
Shareholders, pension funds and financial powerhouses are all looking to a future where pollution is taken out of our economy and our homes and businesses are powered by cleaner, safer sources of energy. And it’s starting to hurt the oil industry.
At recent meetings, top executives from Shell, Statoil and Chevron were rocked by the level of discontent raised by shareholders, who felt they faced huge financial risk due to their company’s lack of plan to deal with climate change.
As a result, proposals were tabled requiring the companies to disclose just how much their busi... Read more >