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Author Topic: Fossil Fuel Propaganda Modus Operandi  (Read 33993 times)

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Schlumberger N.V. (Schlumberger) is the supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company’s segments include Reservoir Characterization Group, which consists of the principal technologies involved in finding and defining hydrocarbon deposits; Drilling Group, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells, and Production Group consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services, Completions, Artificial Lift, Well Intervention, Subsea, Water Services, Carbon Services and the Schlumberger Production Management field production projects.   SLB  has a Mkt cap of 126.44B and operates in 80 countries. SLB has EXTENSIVE gas drilling operations in the USA.

From the fine print in a Schlumberger FORM 10−Q QUARTERLY REPORT  :o  

Any dilution of, or decrease or delay of any accretion to, Schlumberger’s earnings per share could cause the price of Schlumberger’s common stock to decline.

Demand for our products and services could be reduced or eliminated by governmental regulation or a change in the law.

International, national, and state governments and agencies are currently evaluating and promulgating climate−related legislation and regulations that are focused on restricting greenhouse gas (“GHG”) emissions.  In the United States, the Environmental Protection Agency (“EPA”) is taking steps to require monitoring and reporting of GHG emissions and to regulate GHGs as pollutants under the Clean Air Act (“CAA”). The EPA’s “Mandatory Reporting of Greenhouse Gases” rule established a comprehensive scheme of regulations that require monitoring and reporting of GHG emissions that began in 2010.

Furthermore, the EPA recently proposed additional GHG reporting rules specifically for the oil and gas industry. The EPA has also published a final rule, the “Endangerment Finding”, finding that GHGs in the atmosphere endanger public health and welfare, and that emissions of GHGs from mobile sources cause or contribute to the GHG pollution Following issuance of the Endangerment Finding, the EPA promulgated final motor vehicle GHG emission standards on April 1, 2010.

The EPA has asserted that the final motor vehicle GHG emission standards will trigger construction and operating permit requirements for stationary sources. In addition, climate change legislation is pending in the United States Congress. These developments may curtail production and demand for fossil fuels such as oil and gas in areas of the world where our customers operate and thus adversely affect future demand for our services and products, which may in turn adversely affect future results of operations. 

Additionally, legislation to reduce greenhouse gases may have an adverse effect on our operations, including payment of additional costs due to carbon emissions. Higher carbon emission activities include transportation, including marine vessels, cement production (by third party suppliers), and electricity generation (by third party suppliers) as well as other activities.

Finally, our business   could be negatively affected by climate change related physical changes or changes in weather patterns, which could result in damages to or loss of our physical assets, impacts to our ability to conduct operations and/or disruption of our customers’ operations.


Agelbert NOTE: Isn't the above just CLASSIC Profit over planet world class GREED? They have the BRASS to "worry" about the climate change THEY are causing costing THEM some money!   But about the REST of the biosphere, they just do not CARE! 

And these psychopaths KNOW the damage, to humans alone, caused by their oil and gas "services" (grossly polluting practices) is NOT COVERED BY INSURANCE!  >:(

We could be subject to substantial liability claims, which would adversely affect our results and financial condition.

Certain equipment used in the delivery of oilfield services, such as directional drilling equipment, perforating systems, subsea completion equipment, radioactive materials and explosives and well completion  systems, are used in hostile environments, such as exploration, development and production applications. An accident or a failure of a product could cause personal injury, loss of life, damage to property, equipment or the environment, and suspension of operations.

Our insurance may not adequately protect us against liability for some kinds of events, including events involving pollution, or against losses resulting from business interruption. 

Moreover, in the future we may not be able to maintain insurance at levels of risk coverage or policy limits  that we deem adequate.

Substantial claims made under our policies could cause our premiums to increase. Any future damages caused by our products that are not covered by insurance, or are in excess of policy limits or are subject to substantial deductibles, could reduce our earnings and our cash available for operations.


TRANSLATION (the one the LAWYERS that wrote the above ethics free boilerplate are communicating LEGALLY to you ):
We ain't gonna pay for our piggery. There ain't no profit in ADEQUATE insurance coverage of WHAT WE REALLY DO to endanger people and pollute the biosphere...

If you don't assume that SLB is every bit as involved in buying politicians and democracy in the service of profit over planet as Exxon, Chevron, Halliburton and the Koch Crooks are, then read that financial statement cover to cover like I did. LEARN where their operations are, the names for their two field segments, the tax dodges from depreciation and the currency hedging they claim is not for "speculation" purposes . LOL! You need some accounting background and a strong stomach.  :P

Check out what ridiculously low taxes they pay.  >:(  The statement is somewhat dated (2009 and 2010). But it gives you and excellent view of the abject irresponsibility that this conscience free corporate example of the banality of EVIL calmly APPLAUDS and JUSTIFIES as OKAY in order to make a profit.   


We can always hope that this 130 billion dollar world class polluting Corporation run by psychopaths for profit over planet will go bankrupt from pollution fines SOON! 

Spread the word. Schlumberger is helping kill the biosphere and could care less!   
« Last Edit: October 26, 2014, 12:46:42 am by AGelbert »
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37


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