We May Not See Arctic Oil For Decades

We May Not See Arctic Oil For Decades

May 28th, 2015

by John Donovan. 

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We May Not See Arctic Oil For Decades

SHELL MAY END UP WITH NOTHING

By Nick Cunningham: Posted on Wed, 27 May 2015

Shell’s Arctic campaign this year will be pivotal. If the company cannot find large reserves of oil, it will likely set back Arctic oil development for a generation.

The Financial Times reported that Royal Dutch Shell will not see Arctic oil come online anytime soon, even in the best of scenarios. Even Shell officials think that the oil major will not be able to see Arctic oil hit the market until sometime in the 2030s.

Related: Shell Approval May Trigger Resource Race In The Arctic

There are a few reasons for this. Finding and developing offshore oil can typically take around a decade. First there is a long lead time before any drills hit the waters – analyzing data, purchasing acreage, planning, doing seismic surveys, getting permits, moving equipment into place, and finally deploying rigs. Shell first started buying up Arctic leases in 2007. After years of preparation (and huge setbacks), Shell has done most of this pre-drilling work.

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Posted in: Alaska, Arctic, Chukchi Sea, Conoco Phillips, Environment, Gulf of Mexico,Oil, Oil Spill, Pollution, Royal Dutch Shell Plc, Shell, United States.
Tagged: Alaska · Arctic Ocean · Chukchi Sea · Gulf of Mexico · Litigation · Oil · Oil Prices · Royal Dutch Shell Plc · Shell

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Alaska governor tours Shell rig in Seattle, touts Arctic drilling

Alaska governor tours Shell rig in Seattle, touts Arctic drilling

May 28th, 2015

by John Donovan. 

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Phuong Le | Associated Press: May 27, 2015

Alaska governor tours Shell rig in Seattle, touts Arctic drilling

SEATTLE — The governor of Alaska on Wednesday toured a massive oil drill rig parked on Seattle’s waterfront, then met with Washington state Gov. Jay Inslee to tell him that Washington’s position on future Arctic drilling will hurt the economy of Alaska.

Alaska Gov. Bill Walker met privately with Inslee at Auburn City Hall, south of Seattle. Inslee is a Democrat; Walker an independent.

Inslee spokeswoman Jaime Smith said the two governors didn’t talk about the dispute over the drill rig but generally discussed drilling in the Arctic, which Inslee opposes, she said.

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Posted in: Alaska, Arctic, Associated Press, Chukchi Sea, Environment, Greenpeace,Litigation, Oil Spill, Pollution, Royal Dutch Shell Plc, Shell, United States.
Tagged: Alaska · Arctic Ocean · Chukchi Sea · Environment · Litigation · Oil · Royal Dutch Shell Plc · Shell

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Despite Bernie Sanders’ Campaign Pledge, Koch-Republicans Will Block Infrastructure Spending

Despite Bernie Sanders’ Campaign Pledge, Koch-Republicans Will Block Infrastructure Spending

By: Rmuse

Wednesday, May, 27th, 2015, 10:05 pm

Republicans like Paul Ryan already pledged two weeks ago that regardless the Amtrak derailment, crumbling bridges, and roads barely fit for foot traffic, Republicans would not fund any infrastructure improvements to, as Ryan said, “save money.” However, Republicans had no problem passing a “balanced budget” rife with tax cuts for the rich and corporations, or proposing standalone monumental tax cuts for the rich that would make George W. Bush gasp. Like Republicans’ predilection to always finding ‘surplus’ funds for the bloated defense budget, they always find money for tax cuts while opposing infrastructure spending due to “America being broke.”     READ MORE
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Bernie Sanders has big ideas, and they deserve our attention

Bernie Sanders has big ideas, and they deserve our attention

Updated by Ezra Klein on May 27, 2015, 10:20 a.m. ET @ezraklein

Win McNamee/Getty Images

Bernie Sanders's announcement speech was pretty much what longtime observers of the Vermont populist have come to expect from him: a staccato list of policy ideas that most in Washington think too radical to seriously discuss.

In the space of a few paragraphs, Sanders endorsed breaking up the biggest banks and moving to a single-payer health-care system. He called for public funding of campaigns and vastly higher taxes on the rich. He proposed expanding Social Security, building a universal pre-K system, and taxing carbon.

These are big ideas, in every sense of the word: their costs would be huge, their implementation difficult, their consequences far-reaching. They are ideas worth debating and discussing — and they're why Sanders is worth covering.

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DIGNITY AND JUSTICE FOR WORKERS WORLD WIDE_ILRF NEWSLETTER

May 2015 Contents:  >>  JOIN US ON JUNE 3RD! >>  REPORT-BACK FROM GLOBAL DAY OF ACTION: REMEMBERING RANA PLAZA >>  NEW FILM ON BANGLADESH GARMENT INDUSTRY: UDITA >> FACTORY FIRE KILLS AT LEAST 72 IN PHILIPPINES >> ILRF COMMENTS: PROTECTING HUMAN RIGHTS THROUGH GOVERNMENT PROCUREMENT >> LIBERIA DECLARED EBOLA FREE! >> USLEAP SPRING NEWSLETTER & FELLOWSHIP OPPORTUNITY
Join Us on June 3rd! Please join ILRF on June 3rd at the National Education Association in Washington, D.C. for two events: 9:00am-2:00pm | Our 2015 conference Hasta La Victoria! Farm Worker Justice in Global Supply Chains will bring together farmworker organizers from the United States and abroad to discuss the challenges faced by agricultural workers. They will explore policy options and grassroots strategies to improve working conditions in the agricultural sector and extend workers’ access to remediation. 6:00-8:30pm | This year at our Annual Labor Rights Defenders Awards we are honoring Senator Sherrod Brown, the Farm Labor Organizing Committee, and the Tobacco and Allied Workers Union of Malawi for their commitment to advancing workers' rights and working to end forced and child labor.  Call for Volunteers! We are looking for volunteers to help staff our evening reception. If you're interested, please fill out this form.  Even if you can't make it to D.C., please consider making a contribution to help honor the awardees. All proceeds will go to ILRF to support our efforts to defend worker rights around the globe.
Report-Back from Global Day of Action: Remembering Rana Plaza On April 24, the second anniversary of the Rana Plaza building collapse in Bangladesh, ILRF joined with our partner organizations in Bangladesh, the Clean Clothes Campaign in Europe, Workers United-SEIU, United Students Against Sweatshops, and many other organizations and unions around the world to call for justice for Rana Plaza victims and workplace safety for garment workers in Bangladesh. At least 50 actions were held, including a demonstrations at the Rana Plaza site and actions at storefronts and malls. For photos from the actions, click here.  Just before the day of action, The Children's Place made a significant payment to the Rana Plaza Trust Fund, bringing the company's total contribution to $2.5 million, and encouraged other brands to contribute additional funds. ILRF ended our Children's Place campaign and thanked them for making what is now the third largest contribution to the fund after Primark and Loblaws. We are now continuing to call on JC Penney - which hasn't contributed a single penny - to pay in, and we're urging companies like Mango, Walmart and Zara to increase their contributions. Take action here to urge these companies to pay the $2.7 million still needed to complete the $30 million fund.  During the second anniversary week, ILRF hosted a delegation of human rights and civic leaders in Bangladesh. Click here for a report from the delegation.
New Film on Bangladesh Garment Industry: UDITA Trailer | Full-length feature film Udita means "rising up," and that's what increasing numbers of garment workers are doing, against all odds. Subtitled, "Life, death, oppression and resistance - 5 years with the women of Bangladesh's sweatshops and their fight for a better life," the new documentary produced by Rainbow Collective and Openvizor follows a turbulent time in the lives of women at the grassroots of the garment workers struggle. 'UDITA' weaves together characters from acclaimed documentaries, 'The Machinists' [2010] and 'Tears in the Fabric' [2014] with new faces and scenes, filmed in 2015 with the women at the font line of the struggle.  Please consider screening the film in your community! For more information,contact the Rainbow Collective.
Factory Fire Kills at Least 72 in Philippines Our thoughts are with the workers and families affected by the May 13 factory fire at Kentex, a footwear manufacturer in the Philippines. 72 bodies were uncovered from the factory, and another 20 workers are still missing in the largest factory fire to hit the Philippines. According to a fact-finding team, the fire resulted from glaring violations of occupational health and safety standards.Filipino human rights groups and labor organizations are calling for holding accountable the government agencies that gave the company a compliance certification; imposition of criminal and administrative penalties on the factory owner; fair compensation for the families of victims, proper benefits for the survivors who lost their jobs, and long-term support for orphaned children; and the immediate passage of an occupational health and safety law.
ILRF Comments: Protecting Human Rights through Government Procurement No other consumer in the world has greater influence on human rights worldwide than the US Government. Yet, federal procurement policy is like a human rights sieve with gaping holes. It still allows US government agencies and entities to purchase goods made in deathtrap factories in Bangladesh or in other factories that do not comply with internationally-recognized human rights without investigating risk to workers or seeking remedy for workers who have been harmed. ILRF proposes five steps the US Government should take to exercise its duty to protect workers’ human rights through procurement.
Liberia Declared Ebola-Free! Just over a week ago, the World Health Organization (WHO) declared that the Ebola outbreak that had killed around 4,700 people in Liberia was finally over. Liberia had not reported any new cases of Ebola in 42 days. ILRF helped raise more than $4,000 in individual donations from supporters help our partner, the Firestone Agricultural Workers Union of Liberia, protect members against the epidemic. We received a message last week from FAWUL vice-president Edwin Cisco, who thanked us all for our part in helping them battle this deadly disease, "The support from ILRF was also pivotal to securing the Ebola-free status for Liberia by WHO. We therefore express our profound gratitude and thanks for this laudable undertaking by the ILRF family." And we thank all of YOU who helped make this possible!
USLEAP@ILRF Spring Newsletter & Fellowship Opportunity Read about our plans to file our first FTA complaint and our other reflections on worker rights in Latin-America, Fast Track, and TPP in our USLEAP program's spring newsletter. We are currently seeking applicants for the Stephen Coats Memorial Fellowship, a one-year position to promote workers’ rights in Latin America and build transnational support for worker organizers in the region. The application deadline is June 8.

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Shell faces what amounts to an almost existential crisis

Shell faces what amounts to an almost existential crisis

May 27th, 2015 

by John Donovan. 

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Analysts Downgrade Troubled Shell

Given Mornigstar’s view that long-term oil prices will be well below $100 going forward, we don’t believe Shell’s has a lasting competitive advantage over its peers

Stephen Simko, CFA 27 May, 2015

Shell (RDSB) faces what amounts to an almost existential crisis: even when oil prices were $100 its portfolio was strewn with problems. Huge bets on shale destroyed huge amounts of capital, cost overruns on key projects such as the Motiva refinery, and a chronically poor-performing downstream all combined to leave the company with very weak returns on capital.

We have recently lowered our Shell fair value estimate to £20.50 per share from £21 per share to reflect what we believe was an overpayment with respect to its planned acquisition of BG Group.

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Posted in: Australia, BG Group, Bidness Etc, Gas, Gulf of Mexico, Oil, Oil Prices, Royal Dutch Shell Plc.
Tagged: BG Group · Gas · Oil Prices · Royal Dutch Shell Plc · Shell

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