Sunday, May 12, 2013
Chevron's Greed Harms the Planet
Barry, My Liege :
Chevron, an identified World Real Oil Terrorists [WROT], has exited the alternative energy market because the expected profits of 5% were not as high as the 15% profits it likes.
See Bloomberg report here : http://www.bloomberg.com/news/2013-04-18/chevron-defies-california-on-carbon-emissions.html
While that decision is bad for the company's shareholders in the medium term, it also demonstrates Chevron's ignorance of future trends. Chevron has chosen to maximize short term profits at the expense of the climate and the future.
We have reached peak oil production and will rely increasingly on alternative energies.
Here is a quote from the study Peak Oil by the Bundeswehr Transformation Centre Future Analysis Branch, page 8 :
'Firstly, a global lack of oil could represent a systemic risk because its versatility as a source of energy and as a chemical raw material would mean that virtually every social subsystem would be affected by a shortage.'
Read the full study here : http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
Additionally, the climate has reached a critical CO2 proportion of 400 ppm [http://climate.nasa.gov/news/916] accordingt to NASA.
Continuing to profit from carbon based fuels harms the climate, sacrifices our future and is bad management.
My Liege, it is appropriate for you to publicly and/or privately excoriate Chevron's Board members for their greed and shortsightedness.
You can find them here :
6001 Bollinger Canyon Road
San Ramon, CA 94583, USA
Telephone: +1 925.842.1000
Board of Directors
John S. Watson
Chairman and Chief Executive Officer
George L. Kirkland
Vice Chairman and Executive Vice President of Upstream and Gas
Linnet F. Deily
Former Deputy U.S. Trade Representative and U.S. Ambassador to the WTO
Robert E. Denham
(Lead Director) Partner of Munger, Tolles & Olson LLP
Alice P. Gast
President, Lehigh University
Enrique Hernandez Jr.
Chairman, Chief Executive Officer and President, Inter-Con Security Systems, Inc.
Charles W. Moorman
Chairman, Chief Executive Officer and President, Norfolk Southern Corporation
Kevin W. Sharer
Retired Chairman and Chief Executive Officer, Amgen Inc.
John G. Stumpf
Chairman, Chief Executive Officer and President, Wells Fargo & Company
Ronald D. Sugar
Retired Chairman and Chief Executive Officer, Northrop Grumman Corp.
Retired Executive Vice President, The Coca-Cola Company
Your faithful servant,