Skip to Content.
Sympa Menu

permaculture - [permaculture] Shell Oil

permaculture@lists.ibiblio.org

Subject: permaculture

List archive

Chronological Thread  
  • From: J Kolenovsky <garden@hal-pc.org>
  • To: permaculture@lists.ibiblio.org
  • Subject: [permaculture] Shell Oil
  • Date: Sun, 05 Mar 2006 12:12:59 -0600

This was an article in http://www.energybulletin.net

A Shell of itself

Nelson D. Schwartz, Fortune Magazine
It should be the best of times for the energy giant. But a look at its reserves show Royal Dutch Shell may soon be running on empty.
------------
Judging by the $23 billion it earned last year, these should be the best of times for Shell, the Anglo-Dutch energy giant that ranks third among the top five Western oil companies. But Wall Street isn't celebrating. Instead, analysts are worried that buried beneath the record profit figures are worrying signs of a business in decline.

That's because Shell (Research) hasn't been able to find nearly as much oil and gas as it's now pumping out of the ground. In fact, it hasn't even come close -- replacing only 60 percent to 70 percent of what it produced in 2005 and only 19 percent in 2004. Shell has had reserve problems for years -- a controversy over improperly booked assets forced it to reduce estimated reserves by roughly 30 percent and led to the resignation of its CEO, Phil Watts, in 2004.
(27 February 2006)
--
J. Kolenovsky, 2003 Honorable Mention Award, Keep Houston Beautiful
ô¿ô - http://www.celestialhabitats.com - environmental resource
ô¿ô - http://www.oilcrashmovie.com/
ô¿ô - http://www.peakoil.org and http://www.endofsuburbia.com -
start becoming attuned to the "new lifestyle" ahead of you
ô¿ô - http://www.hal-pc.org/~garden/personal.html - personal




  • [permaculture] Shell Oil, J Kolenovsky, 03/05/2006

Archive powered by MHonArc 2.6.24.

Top of Page