BP, Chevron Are Risky Investments – Report

 

An oil company’s track record on spills—and whether it is prepared for future accidents—has become increasingly important to investors now that oil exploration and extraction is moving offshore and into risky areas like the Arctic or South America, says MSCI Inc, an investment firm serving investors worldwide, reports Jason Plautz at InsideClimate News. The firm rated 30 of the world’s largest oil and gas companies on their investment attractiveness based on their history of spills and environmental management, as well as the riskiness of the areas they are exploring. BP [5] and Chevron [6] were singled out as companies that are poorly positioned in this area. The report said that environmental incidents have become the biggest factor in determining a company’s investment risk, overshadowing other factors like its relationship with its employees or its partnership with host governments. Spill records and safety cultures will become even more important in the future, because of what the report describes as the industry’s “increased appetite for complex and challenging unconventional oil and gas projects.” Large environmental accidents can substantially affect production and cause stock prices to drop, sometimes dramatically.

Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. This is how YOU can make a difference.

Source

Report: BP and Chevron are riskier bets for oil investors. An oil company’s track record on spills—and whether it is prepared for future accidents—has become increasingly important to investors now that oil exploration and extraction is moving offshore and into risky areas like the Arctic or South America. Inside Climate News Jason Plautz

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About melharte

Mel (Mary Ellen) Harte is a biologist (PhD) and climate change educator. She co-authored the free online book, COOL THE EARTH, SAVE THE ECONOMY, available at www.CoolTheEarth.US, and writes the CLIMATE CHANGE THIS WEEK column at the HuffingtonPost. Living summers in the alpine Rockies, she is on the frontlines of watching what climate change can do. Her diagnostic digital photographs of wildflowers have appeared in numerous publications.
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