Royal Dutch Shell Plc  .com Rotating Header Image

Break-up calls and congressional hearings: Big Oil faces growing pressure to change

The Washington Post

Break-up calls and congressional hearings: Big Oil faces growing pressure to change

Ahead of the COP26 Summit, oil executives made a historic appearance on Capitol Hill and Shell faced a hedge funds’s call to split up its business.

By Taylor Telford: 29 Oct 2021 5:18 p.m. EDT

On the eve of a pivotal global climate summit, the world’s oil giants have been swamped by calls from activists, investors and lawmakers to move faster to transform their businesses, cut down greenhouse gas emissions and take responsibility for their role in the climate crisis.

This week, Third Point LLC took a $750 million stake in Royal Dutch Shell and called for a breakup that would separate its legacy extraction and refining operations from renewables and liquefied natural gas. The hedge fund’s leader said Shell’s “incoherent, conflicting set of strategies” made for unhappy shareholders and an unhappy public, and that it should stop trying to “be all things to all people.”

A day later, Shell, ExxonMobil, Chevron and BP executives were being pressed on Capitol Hill about Big Oil’s alleged efforts to mislead the public about climate change — an industry grilling that drew comparisons to a 1994 hearing at which tobacco executives testified under oath that they believed nicotine was not addictive.

FULL ARTICLE

royaldutchshellplc.com and its also non-profit 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.

Comments are closed.

%d bloggers like this: