An oil and gas firm’s Colorado refinery is systematically poisoning the air while the company massively expands stock buybacks and dividends.
by Matthew Cunningham-Cook and Andrew Perez, The Lever
An oil refinery is poisoning the air in Colorado due to poor maintenance and inspection, according to a new report from federal environmental regulators. But instead of devoting money to deal with the problems, the refinery’s owner, Suncor Energy, has massively increased payouts to shareholders — at the urging of one of the world’s largest hedge funds.
The case illustrates how Wall Street’s investments in fossil fuels directly threatens the health of local residents and, in particular, vulnerable populations.
The Canadian oil and gas giant Suncor has made headlines in recent years for a series of chemical releases and air quality violations at its 92-year-old refinery just outside Denver. In its new report, the Environmental Protection Agency (EPA) found that the problems are systemic.
“The Suncor petroleum refinery in Commerce City, Colorado, may experience more air quality incidents because of inadequacies in preventative maintenance, testing, and inspection of liquid level control systems and electrical equipment,” the EPA declared last week.
Recent Posts
House Bill Would Let Marco Rubio Strip Passports Over Political Speech
Take Action Now Provision would let the Secretary of State deny or revoke passports over alleged “material support” as critics warn of thought…
Targeting Venezuela, Trump Escalates U.S. Campaign Of Aggression In Latin America
Take Action Now The US and Latin American right have long mobilized to remove challenges to their traditional privileges and control.By Jonathan…
GOP-Led Congressional Committee Votes To Block Trump From Rescheduling Marijuana
Take Action Now Can the Trump administration, or any administration, declare people guilty and treat them as criminals, absent the transparent legal…
Never Forget What?
Take Action Now Never forget meant never forgive. Never forget meant someone would pay. And with my Muslim name, my South Asian heritage, I knew who…