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Shell shareholder revolt over Canadian tar sands

The Guardian - 18/01/10

Shell chief executive Peter Voser will be forced to defend the company's controversial investment in Canada's tar sands at his first annual general meeting, after calls from shareholders that the project be put under further scrutiny.

A coalition of institutional investors has forced a resolution onto the agenda calling for the Anglo-Dutch group's audit committee to undertake a special review of the risks attached to the carbon-heavy oil production at Athabasca in Alberta.

Co-operative Asset Management and 141 other institutional and individual shareholders raise "concerns for the long-term success of the company arising from the risks associated with oil sands."

Article continues ...
http://www.guardian.co.uk/business/2010/jan/18/shell-shareholders-fury-tar-sands]

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