SHELL: (SOME OF) THE EVIDENCE
Climate Change - Shell’s role in one of the biggest threats to biodiversity
As one of the world’s major oil companies, Shell has a significant role
in causing - and therefore responsibility for - man-made climate
change. Although Shell has gained high profile publicity for its
statements on climate change and lobbying of Tony Blair for tougher
action on climate change, the company’s own figures tell a different
story. Indeed, Shell is explicit about how much fossil fuel it extracts
and is in fact aggressively pursuing a policy of increasing the rate of
extraction year on year:
In 2005, Shell produced 3.518 million barrels of oil equivalent (boe)
per day. Production is expected to grow and reach 3.8-4.0 million boe
per day by 2009, which is an increase of between 8 and 13%.
Earnings in Shell’s exploration and production division - the division
that explores for and extracts oil - increased by 45% in 2006.
Also in 2006, Shell added 160,000 square kilometres of exploration
acreage to its portfolio, with new exploration licences in 14 countries
and says it “will pursue an exploration programme to add more new
Meanwhile, Shell’s investment in renewable energy amounted to $1
billion between 2001 and 2006. This may sound impressive, but an
investment of $15.6 billion in production and refining in 2005 alone
puts it into context.