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October 29, 2015

Shell Loses Billions After Abandoning Tar Sands and Arctic Projects 
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And in Alberta, Canada, oil giant Shell has abandoned its plans for a
massive tar sands mine, citing concerns that there aren't enough
pipelines to transport the crude oil. This comes after Shell also
canceled its plans to drill in the Arctic. The construction of major
pipelines such as Enbridge's Northern Gateway pipeline and Trans
Canada's Energy East pipeline, that would help move Alberta tar sands,
have been delayed by massive resistance, especially by First Nations. In
Ontario, Anishinaabe women disrupted one of Trans Canada's town hall
meetings over the proposed pipeline in 2014.

Protester 1: "You guys are not welcome on Anishinaabe territory."

Protester 2: "That's coming from the women."

Protester 3: "You're not welcome here."

Trans Canada representative: "OK, thank you. Listen, if we're not going
to be able to 
present information in a—"

Protester 4: "Your information is lies."

Trans Canada representative: "OK."

Protester 4: "Your information is lies. You're raping Mother Earth.
You're poisoning our water. You're not listening to the women. We're
talking about our grandchildren and future generations. What are you
going to tell your grandchildren? And what are your grandchildren going
to tell their children when there's no water?"

Today, Shell reported a loss of $7.4 billion for the third quarter of
this year. That's compared with a profit of $4.5 billion in the same
quarter a year earlier. Shell's losses are caused by declining revenue
from low oil prices and the company having wasted billions on the
now-canceled tar sands and Arctic projects.

 

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