In this week’s Oilgram News column, Regulation and Environment, Gary Gentile asks if the risks associated with ultra-deepwater oil production endeavors are properly disclosed to shareholders.
By Gary Gentile | August 31, 2015
Opponents of offshore drilling in frontier environments, such as the Arctic, have opened up a new front in their effort to curtail such efforts — asking US financial regulators to require more robust disclosure of the risks involved.
A group of Democrats in the US Congress have asked the Securities and Exchange Commission to force companies to tell investors the cost of a catastrophic accident resulting from drilling in ultra-deepwaters or in the harsh and remote waters off the coast of Alaska.
Environmental advocates say decision to permit Shell to set rig off Alaska has tarnished president’s climate legacy
“We made it clear that Shell has to meet our high standards in how they conduct their operations – and it’s a testament to how rigorous we’ve applied those standards that Shell has delayed and limited its exploration off Alaska while trying to meet them.”
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