BP faces protest over oil sands development

We need to pay attention to this brewing issue at BP. Toledo is supposed to be one of the main, mainland processors of oil sand crude and if there already is shareholder concern, what will happen to the future of the refinery in Oregon especially after they spend lots of money to convert it to process oil sand crude? If the Oregon plant is converted and BP pulls out, will it be rendered useless and close down? We will have to watch this.
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BP has become the latest oil company to face a shareholder revolt over its investments in Canada’s controversial oil sands. A coalition of shareholders has tabled a resolution for the oil giant’s annual meeting on April 15 highlighting what they describe as the environmental and social risks of tar sands development.

The resolution, which follows a similar action taken by investors in Royal Dutch Shell, follows BP’s announcement last week that it is set to press ahead with a $10 billion investment in the industry.

Vast reserves of oil lie locked in the bitumen-rich sands of Northern Alberta but processing them into a heavy form of synthetic crude oil is an expensive and environmentally fraught activity which critics say is unsustainable and should be stopped.

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_...

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"If the Oregon plant is converted and BP pulls out, will it be rendered useless and close down?"

No, it will continue to be in operation until the country begins to switch to another fuel source. BP/Husky-Oregon is already operational and permitted, so it will survive. If the oil sands are abandoned (which is highly unlikely), the real loser will be the Gorilla Project in South Dakota.

There's a city full of walls you can post complaints at

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