Not insuring important oil and gas projects is socially irresponsible.

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This is a news compilation setting the record straight on the day’s top anti-oil and gas stories and providing research and facts to counter misinformation about the oil and gas industry.

 

Foreign-funded- Stand.earth campaigns for socially irresponsible divestiture of insurance from Canadian oil and gas projects.

The Facts:

Not insuring important oil and gas projects is socially irresponsible.

  • Would you tell insurance companies to stop insuring cars because you don’t like cars? We make insurance mandatory for your car and many other things like pipelines because there is a public benefit.  In the very unlikely event of a serious car accident not only are you covered but so are other people.

    It is simply irresponsible and against the public interest to campaign against insurance.  The pipeline is covered but so is the public. The problem with activists who don’t like pipelines is they don’t think past that.
    https://www.investopedia.com/terms/i/insurance.asp

  • The reality is oil and gas demand is growing in non-OECD developing countries according to OPEC. Studies show Canada can provide the best in the world oil and gas to these countries, and fight the global problem of emissions by producing resources domestically.
    http://www.naviusresearch.com/publications/reversing-carbon-leakage/

  • By not insuring Canadian oil and gas projects, the global energy supply shift to countries that are more polluting, less transparent, less sensitive to societal pressures, and less committed to emissions reductions. Divesting from best in the world Canadian oil and gas is bad for the planet.
    https://www.investnow.org/divestment-vs-investment/ 


Here is a story that gets it right.

First Nations group criticizes Woodside Petroleum’s move to sell Kitimat LNG stake

The First Nations Limited Partnership, which represents 16 First Nations in northern B.C., is both disappointed and concerned that its members’ commercial interests could be at stake due to Australian-based Woodside Petroleum looking to sell its shares.

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