Posts tagged with: Hydraulic fracturing

Blog author: bwalker
Monday, December 14, 2015

NunIf one were to pinpoint the epicenter of sanctimonious behavior the past two weeks, he or she look no further than Paris. The United Nations Framework Convention on Climate Change (UNFCCC, or COP21) has been a magnet for shareholder activists, nuns, clergy and other religious intent on furthering agendas ostensibly geared toward mitigating manmade global warming, but in reality promote hardship and energy poverty across the economic spectrum.

Mind you, this writer grew up under the tutelage of nuns, and found many of them to be knowledgeable in their respective subject matter while witnessing all of them as paragons of morality. But more and more, I’ve come to find this anecdotal evidence nothing more than a flawed syllogism. Simply because nuns are somewhat knowledgeable and almost always moral doesn’t necessarily add up to the equation nuns are always moral because they are, to a person, knowledgeable.

Your writer has pondered this epistemological conundrum since beginning high school 40 years ago, and the question rears its head time and again: What happens if the knowledge of activist nuns is flawed? Does it then render the morality of their conclusions suspect?

If readers answer the second interrogative in the affirmative, they also recognize the sanctimoniousness of both the nuns and those who point to their opinions as morally superior. I’m not attempting to throw nuns under their vaunted bus, however, inasmuch I’m pointing out they are as subject to buying into bad science and the passions of activism as the next person. Take for example, Sr. Aine O’Connor of the Sisters of Mercy, one of several orders of nuns belonging to the Interfaith Center on Corporate Responsibility, a progressive shareholder activist group. (more…)

Highly recommended reading today comes from Matt Ridley in the Wall Street Journal. His essay, “The Green Scare Problem,” rebuts environmentalist Cassandras from Rachel Carson to the present day, exposing the rampant hyperbole ecological warriors employ to sell their global warming and anti-genetically modified organism policies to an unsuspecting public. Ridley goes even further to show how these policies harm the world’s poorest.

Ridley begins by quoting President Obama, who reduces the opposition of his climate-change agenda as nothing more than the “same stale arguments.” Ridley’s response is priceless:

The trouble is, we’ve heard his stale argument before, too: that we’re doomed if we don’t do what the environmental pressure groups tell us, and saved if we do. And it has frequently turned out to be really bad advice.

Making dire predictions is what environmental groups do for a living, and it’s a competitive market, so they exaggerate. Virtually every environmental threat of the past few decades has been greatly exaggerated at some point. Pesticides were not causing a cancer epidemic, as Rachel Carson claimed in her 1962 book “Silent Spring”; acid rain was not devastating German forests, as the Green Party in that country said in the 1980s; the ozone hole was not making rabbits and salmon blind, as Al Gore warned in the 1990s. Yet taking precautionary action against pesticides, acid rain and ozone thinning proved manageable, so maybe not much harm was done.


What about them, Sisters?

What about them, Sisters?

Religious shareholder activism continues its war on affordable, domestically produced energy in a campaign that can only be described as unholy. The first casualties of this war are the nation’s 10.5 million job seekers, the millions more who have quit looking for work, and the poor. The 2014 proxy resolution season finds the Sisters of St. Francis of Philadelphia joining other shareholders to force a May 2014 vote at Chevron Corp., which would require the company to report hydraulic fracturing (aka “fracking”) risks.

According to Houston Business Journal reporter Jordan Blum:

The effort is part of a larger one involving other shareholder activist groups that are pushing the same issue with Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM), Houston-based Occidental Petroleum Corp. (NYSE: OXY), Houston-based EOG Resources Inc. (NYSE: EOG) and Irving-based Pioneer Natural Co. (NYSE: PXD).

Blum continues:

The domestic shale boom and Houston’s economic growth in recent years have received major assists from hydraulic fracturing. Although Chevron is based out of California, it is one of Houston’s 10 largest energy employers with more than 7,000 local workers, according to Houston Business Journal research.

A new filing on Chevron with the U.S. Securities and Exchange Commission by the Catholic order argues that fracking “continues to be linked to significant environmental and social impacts that could have financial implications for the company due to increased community opposition and regulatory scrutiny.” The filing notes that fracking “uses millions of gallons of water mixed with thousands of gallons of toxic chemicals to extract natural gas from underground shale formations.” (more…)

Blog author: jcarter
Thursday, February 27, 2014

Fracking_Graphic_t670Fracking is a slang term for hydraulic fracturing, a procedure of creating fractures in rocks and rock formations by injecting fluid into cracks to force them further open. The larger fissures allow more oil and gas to flow out of the formation and into the wellbore, from where it can be extracted. Fracking has resulted in many oil and gas wells attaining a state of economic viability, due to the level of extraction that can be reached.

Fracking has been around since the end of World War II, but it was only in the last decade or so that the economic incentives helped to make it more common practice. The result has been an increase in oil production — and an increase in controversy.

Gasland, a 2010 documentary, and Promised Land, a 2012 feature film starring Matt Damon, helped to turn public opinion against the process. The information in those films has been effectively rebutted, but the damage has already been done. According to a 2013 University of Texas poll, 41 percent of Americans oppose fracking.

frackingA new report by the Environmental Protection Agency finds that one of our cheapest sources of energy may be cleaner than we had previously thought:

The Environmental Protection Agency has dramatically lowered its estimate of how much of a potent heat-trapping gas leaks during natural gas production, in a shift with major implications for a debate that has divided environmentalists: Does the recent boom in fracking help or hurt the fight against climate change?

Oil and gas drilling companies had pushed for the change, but there have been differing scientific estimates of the amount of methane that leaks from wells, pipelines and other facilities during production and delivery. Methane is the main component of natural gas.

The new EPA data is “kind of an earthquake” in the debate over drilling, said Michael Shellenberger, the president of the Breakthrough Institute, an environmental group based in Oakland, Calif. “This is great news for anybody concerned about the climate and strong proof that existing technologies can be deployed to reduce methane leaks.”

The EPA credits stricter regulations, but as Erika Johnsen points out, we should not “overlook the overarching role of the free market in inspiring increased efficiency, innovation, and improved technology.”

Religious groups seeking to serve myriad liberal agendas during the 2013 shareholder proxy resolution season look no further than As You Sow, a group dedicated to “large-scale systemic change by establishing sustainable and equitable corporate practices.”

AYS will unveil its Proxy Preview on March 7. Trumpeted as the “Bible for socially progressive foundations, religious groups, pension funds, and tax-exempt organizations” by the Chicago Tribune, this year’s preview predictably includes such “issues” as hydraulic fracturing; e-waste recycling; waste disposal; and pushing coal-fired utilities to adopt more stringent environmental standards than required by law.

Nowhere does AYS mention companies’ fiscal responsibility to return profits to shareholders. Neither does it mention how adherence to these progressive shibboleths might negatively impact the world’s most economically disadvantaged by reducing corporate profitability. (more…)

King Louis XIV censored Moliere’s 1664 play Tartuffe after determining audience members might too easily confuse the titular priest’s hypocritical nature with every priest in real life. According to the king, some priests’ “true devotion leads on the path to heaven,” while others’ “vain ostentation of some good works does not prevent from committing some bad ones.”

The king’s judgment in many ways also describes individuals who pursue their religious vocations while simultaneously championing secular causes such as proxy shareholder resolutions. This leads to more of the same kind of confusion that King Louie was worried about. Coming from the other direction, groups that recruit nuns, priests, and other religious and clergy to promote these resolutions under the pseudo-spiritual guise of “corporate social responsibility” and “social justice” aren’t being clear about intended objectives. The aim of all this is not salvation of the soul, but political organizing.

While Tartuffe deceived his hosts’ willfully, those proxy shareholders who belong to religious orders may or may not be unwittingly promoting such secular resolutions as, for example, bans on hydraulic fracturing that have nothing to do with their vows. As for the secular groups who join them, could it be possible they even more resemble Moliere’s priest by seeking grace on the cheap when they deploy religious, nuns and clergy to assist in the promotion of proxy resolutions?

And at what point do these faithful cease advocacy of spiritual matters and become mere secular activists?