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The Wall Street Journal: In Today’s Journal: Green China

Posted by WSJ.com Staff
April 12, 2007, 10:29 am

If you’re hungry for WSJ energy news, but too busy to flip through the entire paper to find it, here’s a quick roundup:

China has signed on to fight global warming, saying it will participate in talks on a future framework, a move that could boost international efforts to combat climate change. It could also lead to a more effective system to limit greenhouse gases that contribute to global warming and put further pressure on the U.S. to adopt a mandatory limit on its emissions.

The International Energy Agency warned that output by the OPEC had hit its lowest level in over two years on production outages and self-imposed cuts, a factor likely to drain global oil stocks in the coming months.

Exxon Mobil said Chairman and Chief Executive Rex Tillerson received $22.4 million in compensation for 2006, his first year at the helm of the oil giant and largest U.S. company by market capitalization.

Europe’s largest oil company, Royal Dutch Shell, agreed to pay $352.6 million to settle a securities-fraud case in Europe as well as $47 million in fees to American trial lawyers.

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Comments

The June 2005 Royal Dutch “unification” AGM”, arising from the reserves scandal, commenced and ended with a classic Shell TV commercial being shown on giant screens. It featured the legendary crooner Bing Crosby singing the virtues of Shell ending with the memorable concluding lyric: “You can be sure of Shell!”

How could anyone have forecast that The Wall Street Journal would end up publishing a headline, as it did the other day (12 April), saying “Shell settles U.S. fraud case”. Bing must be turning in his grave.

Shell’s reputation now stands alongside the likes of Enron.

Posted by John Donovan, co-owner of the website www.royaldutchshellplc.com

Comment by John Donovan – April 14, 2007 at 4:36 am

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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