Worthy winners of France’s fiercely contested ‘Prix Pinocchio’ 2014 were selected last night, recognising corporate greed, hypocrisy and malfeasance, based on a record vote since the awards began. Shell won hands down for the Pinocchio award category ‘One for all and all for me!’, with 43% of the vote, for the development of shale gas projects across the entire world – except in Holland, its home country, which is subject to a fracking moratorium.
Fracking
Long noses at Shell
Shale Fracking is a ‘Ponzi Scheme’
“Shale Fracking is a “Ponzi Scheme” … “This Decade’s Version of the Dotcom Bubble”
By John Donovan
A regular contributor has very kindly drawn my attention to an article published by GlobalResearch under the headline: “Shale Fracking is a “Ponzi Scheme” … “This Decade’s Version of the Dotcom Bubble”
In making the case to support the headline, the article contains a host of extracts from well known publications.
e.g.
A Losing Bet
In 2011, the New York Times wrote:
“Money is pouring in” from investors even though shale gas is “inherently unprofitable,” an analyst from PNC Wealth Management, an investment company, wrote to a contractor in a February e-mail. “Reminds you of dot-coms.”
Jury Awards Texas Family $2.9M For Fracking Nuisance
CLICK ON IMAGE TO ENLAGE
Extract from an article by Jess Davis published 23 April 2014 by LAW360 under the headline: “Jury Awards Texas Family $2.9M For Fracking Nuisance Claim”
Natural Gas Fracking Boom Turns Sour
Shell, which by energy output is now approaching 60% gas, has already backtracked and downsized its shale gas and oil programs…
By: Andrew_McKillop Mar 09, 2012 – 09:51 AM
Exxon, which by energy output is now 49% gas, failed in its first two efforts to crack gas-rich shale fields in Poland…
Shell, which by energy output is now approaching 60% gas, has already backtracked and downsized its shale gas and oil programs. Initially intending to spend about $5 bn on drilling shale field this year, its CEO Marvin Odum now places spending at $3 billion to $5 billion, Odum adding: Were at the lower end of that right now because of where natural-gas prices are.
Rock-Heating for Oil Pits Shell Against Environmentalists
A proposal to tap the worlds largest oil-shale deposits in the western U.S. by heating rocks until petroleum sweats out has become the latest election-year conflict over energy policy.
Europe is too emotional about fracking, says Shell chief
Tom Bawden: Friday 03 February 2012
Shell’s chief executive, Peter Voser, called on Europe for a less “emotional” response to fracking, as he outlined plans to accelerate the oil giant’s use of the controversial technology used to release hydrocarbons from rocks.
Mr Voser said Shell would invest $6bn (£3.8bn) to appraise, explore and develop gas and oil reserves contained in rocks this year, as it looked to significantly expand the volume of hydrocarbons it produces.
Hunt for Gas Hits Fragile Soil, and South Africans Fear Risks
In July, the Advertising Standards Authority of South Africa, an independent agency that sets guidelines for media companies, ruled that several of Shells advertised claims including one that said fracking had never led to groundwater contamination were misleading or unsubstantiated and should be withdrawn.
Chris Hayward, a South African farmer, says, “If our government lets these companies touch even a drop of our water, we’re ruined.”: Photo Credit: Liaan Pretorius for The New York Times
A version of this article appeared in print on December 31, 2011, on page A1 of the New York edition
By IAN URBINA
KAROO, South Africa When a drought dried up their wells last year, hundreds of farmers and their families flocked to local fairgrounds here to pray for rain, and a call went out on the regional radio station imploring South Africans to donate bottled water.
Covering much of the roughly 800 miles between Johannesburg and Cape Town, this arid expanse its name means thirsty land sees less rain in some parts than the Mojave Desert.
Gas Fracking Probably Caused Earthquakes in U.K.
Two small earthquakes near Blackpool in northwest England earlier this year were probably caused by hydraulic fracturing, a technique of grinding underground rocks to extract natural gas.
It is highly probable that fracking, as the process is known, at the Preese Hall-1 site caused the seismic events, Cuadrilla Resources Ltd., a U.K.-based shale explorer, said in a report published today. The combination of geological factors that led to the events were rare and the strongest possible tremor, of a magnitude of 3, would not be a risk to safety or property on the surface, the report said.
Is fracking set to transform the oil market?
COLUMN-Is fracking set to transform the oil market? John Kemp
(John Kemp is a Reuters market analyst. The views expressed are his own)
By John Kemp
Oct 12 (Reuters) – Hydraulic fracturing and horizontal drilling revolutionised the natural gas market, unlocking huge quantities of previous unrecoverable reserves trapped in tight rock formations.
The question is whether they are about to do the same for oil — unlocking billions of barrels of crude trapped in similar rock forms, and thereby upending forecasts about increasing oil scarcity and steeply rising prices.
WHY MALTHUS WAS WRONG
In the short term, prices for commodities are determined by the usual forces of supply and demand. In the medium and long term, however, technology is the main determinant of price and availability.
Panel Seeks Stiffer Rules for Drilling of Gas Wells
By ROBBIE BROWN and IAN URBINA
A version of this article appeared in print on August 11, 2011, on page A13 of the New York edition
A federal Department of Energy panel issued recommendations on Thursday for improving the safety and environmental impact of drilling in shale formations for natural gas.
In a report on the drilling technique known as hydraulic fracturing, or fracking, that is used currently in most oil and gas wells, the seven-member Natural Gas Subcommittee called for better tracking and more careful disposal of the waste that comes up from wells, stricter standards on air pollution and greenhouse gases associated with drilling, and the creation of a federal database so the public can better monitor drilling operations.
A Tainted Water Well, and Concern There May Be More
For decades, oil and gas industry executives as well as regulators have maintained that a drilling technique known as hydraulic fracturing, or fracking, that is used for most natural gas wells has never contaminated underground drinking water.
Shell rapidly expanding its positions in unconventional gas (tight gas, shale gas and coal-bed methane)
From pages 31 & 32 of Royal Dutch Shell and its sustainability troubles Background report to the Erratum of Shells Annual Report 2010
The report is made on behalf of Milieudefensie (Friends of the Earth Netherlands)
Author: Albert ten Kate: May 2011.
Unconventional gas and high-volume fracking
Not only for oil, but also for gas Shell is resorting to unconventional production methods. In December 2010, Shell-CEO Peter Voser stated: In recent years, Shell has increased investment in natural gas projects in countries like Qatar, Australia, Russia, the United States and Canada, with a special focus on tight gas, shale gas and coal-bed methane together these are known as unconventional gas. Were currently exploring the potential for unconventional gas outside North America in countries like China and South Africa, as well as some European countries. The Shell-CEO proceeds: I know by 2012 Shell will be producing more gas than oil, and, I know, when it comes to natural gas supplies, a revolution is under way. (…) Shell is set for strong growth in tight gas.
Colorado: Shell gets OK for fracking in Spanish Peaks
July 4, 2011 by Bob Berwyn
State approves 14,000-foot-deep fracking operation without public hearing
SUMMIT COUNTY Shell Oil & Gas has been cleared to drill deep into a unique geological formation near the Spanish Peaks, in southern Colorado, to explore new natural gas resources.
Huerfano County planning and elected officials gave the exploratory fracking project a conditional green light last week, to the dismay of many local residents who are clamoring for more upfront research and better safeguards against environmental impacts.
The Colorado Oil and Gas Conservation Commission last month denied a citizen request for a public hearing because the request didnt come from a local government entry.
France Vote Outlaws Fracking Shale for Natural Gas, Oil Extraction
By Tara Patel – Jul 1, 2011 11:22 AM GMT+0100
French senators voted to outlaw hydraulic fracturing, or fracking, making France the first country to pass a law banning the technique for extracting natural gas and oil.
We are at the end of a legislative marathon that stirred emotion from lawmakers and the public, French Environment Minister Nathalie Kosciusko-Morizet said late yesterday before the vote. Hydraulic fracturing will be illegal and parliament would have to vote for a new law to allow research using the technique, she said.
Public asked to place its trust in Shell operating principles
By John Donovan
In the article below, part of a major PR campaign, Shell Oil President Marvin Odum (right) asks a public concerned about Shell onshore operations, including hydraulic fracturing (fracking), to place its trust in the integrity of Shell and its global operating principles.
It is therefore timely to reflect on the repeated assurances of Shell business principles and code of ethics contained in the Form 20-F returns Shell filed with the U.S. Securities & Exchange Commission in the run up to the reserves scandal, which turned out to contain fraudulent declarations of oil and gas reserves.
Lawmakers Seek Inquiry of Natural Gas Industry
A version of this article appeared in print on June 29, 2011, on page A12 of the New York edition
Photo Credit: J. Scott Applewhite/Associated Press
Representative Maurice D. Hinchey (right) wants S.E.C. action.
WASHINGTON Federal lawmakers called Tuesday on several agencies, including the federal Securities and Exchange Commission, the Energy Information Administration and the Government Accountability Office, to investigate whether the natural gas industry has provided an accurate picture to investors of the long-term profitability of their wells and the amount of gas these wells can produce.
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