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Royal Dutch Shell announced its third-quarter earnings of $1.8 billion. The figure includes $2 billion in losses because of the company's decision, announced at the same time, to stop construction of its Carmon Creek tar sands plant, near the town of Peace River, Alberta. It cited inadequate pipeline capacity as the reason for the stoppage. The facility was designed to extract 80,000 barrels of oil per day. The company is retaining its lease and hence the ability to resume construction. The company also announced a $2.6 billion write-off resulting from its activities, now ended, off the Alaskan coast (earlier story).
Coverage:
The announcement comes shortly after the release of a white paper, "Lockdown: the End of Growth in the Tar Sands", by Oil Change International, a group critical of the oil industry. However, the Conference Board of Canada recently predicted (summary) that "Canadian crude oil production is expected to expand significantly over the medium term."
(Score: 2) by aristarchus on Saturday October 31 2015, @08:41AM
khallow, khallow, khallow! We talked about this, did we not? And did you not promise to stop posting erroneous and false information? Oh, you didn't? Well, alright then. Carry on.
(Score: 1) by khallow on Saturday October 31 2015, @01:46PM
khallow, khallow, khallow! We talked about this, did we not? And did you not promise to stop posting erroneous and false information?
This is the fallacy of innuendo. It is strongly implied that I wrote a falsehood in my previous post, but not actual falsehood is mentioned.
(Score: 3, Touché) by khallow on Saturday October 31 2015, @02:06PM