SoylentNews is people
SoylentNews
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: 0) by Anonymous Coward on Saturday October 31 2015, @04:54PM
Losing Miami is an overall win for humanity.
(Score: 2) by Covalent on Sunday November 01 2015, @02:15AM
This is really funny! But joking aside, the REAL tragedy will be Bangladesh. The nerds in the know are projecting something greater than 100 million displaced people by the end of the century.
Those people will be mostly Muslims, and they will be largely flooding into India, which isn't terribly friendly to them. Add the obvious strain on the resources of an already overtaxed poor area and this could be an absolute nightmare.
You can't rationally argue somebody out of a position they didn't rationally get into.