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MPs’ scheme urged to question tar sands projects

Professional Pensions (UK) -- A cross-party group of politicians will today urge the MPs’ pension fund to vote in favour of resolutions questioning BP and Shell’s controversial tar sands proposals.

Six MPs from the three major political parties have tabled an Early Day Motion highlighting concerns over the financial, environmental and social risks associated with the projects.

Liberal Democrat spokesman for energy and climate change Simon Hughes will also grill the leader of the house about the fund's exercise of its voting rights at annual general meetings.

Hughes called on government to "lead by example" by voting in favour of the resolution.

He added: "Tar sands are a very risky investment - financially, environmentally and socially."

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Submitted Mar 11, 2010 By: Sneakers55

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Sneakers55 Champion Author Houston Posts:43,327 Points:1,711,355 Joined:Nov 2005	Message Posted: Mar 11, 2010 11:55:19 PM Ignore Sneakers55 Report Abuse NHLiveFree wrote: >Where have these Canada MPs been for the last 10 years? It's British MPs, not Canadian MPs. The word "scheme" for a pension plan is a very British usage. Those Brits are scheming all the time. BP plc and Royal Dutch Shell plc are both domiciled in the UK. >I guess it's better late than never. At some point Real Soon Now (the 2010 AGM is the 15th of April) I'll be getting the proxy materials for my BP holdings. Going to have to read that one over at length. The proposal and the Board's arguments against it runs four pages. [Edited by: Sneakers55 at 3/12/2010 12:56:42 AM EST]
NHLiveFree Champion Author New Hampshire Posts:7,205 Points:1,170,885 Joined:Jun 2008	Message Posted: Mar 11, 2010 11:49:32 PM Ignore NHLiveFree Report Abuse Where have these Canada MPs been for the last 10 years? I guess it's better late than never. PDQBlues: Are you serious??? The Alberta Oil Sands is one of the most horrendous environmental disasters in the world. Even the Chinese will have a tough time topping this.
teafortwo Champion Author Washington Posts:15,332 Points:923,055 Joined:Feb 2009	Message Posted: Mar 11, 2010 5:31:22 PM Ignore teafortwo Report Abuse PDQ from San Diego, Impact? Price? Check out the Canadian tarsands operation. A sight to behold.
PDQBlues Champion Author San Diego Posts:4,706 Points:980,350 Joined:Jan 2009	Message Posted: Mar 11, 2010 4:39:29 PM Ignore PDQBlues Report Abuse If it can produce oil with minimal ecological impact and at a competitive price, go for it.