Comments on: CA oil refinery agrees to $10 million offset deal http://understory.ran.org/2007/09/12/ca-oil-refinery-agrees-to-10-million-offset-deal/ The Understory is the official blog of Rainforest Action Network. Sat, 21 Nov 2009 01:33:44 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: Jen http://understory.ran.org/2007/09/12/ca-oil-refinery-agrees-to-10-million-offset-deal/comment-page-1/#comment-123167 Jen Thu, 13 Sep 2007 18:00:48 +0000 http://understory.ran.org/2007/09/12/ca-oil-refinery-agrees-to-10-million-offset-deal/#comment-123167 I think Jerry Brown had it right when he called this beginning to get on the path towards a solution. If California is serious about tackling climate change, then what we need is for everyone to get on the superhighway or the high speed train, ASAP - and that means reducing pollution is the top priority, and offsetting should be a distant second. (and offsetting should be meeting some serious, meaningful standards as well, not the wild west economy that it currently is.) I think Jerry Brown had it right when he called this beginning to get on the path towards a solution.

If California is serious about tackling climate change, then what we need is for everyone to get on the superhighway or the high speed train, ASAP – and that means reducing pollution is the top priority, and offsetting should be a distant second. (and offsetting should be meeting some serious, meaningful standards as well, not the wild west economy that it currently is.)

]]> By: Brant http://understory.ran.org/2007/09/12/ca-oil-refinery-agrees-to-10-million-offset-deal/comment-page-1/#comment-123110 Brant Thu, 13 Sep 2007 04:59:35 +0000 http://understory.ran.org/2007/09/12/ca-oil-refinery-agrees-to-10-million-offset-deal/#comment-123110 For some perspective, consider that CP made <a href="http://www.conocophillips.com/newsroom/news_releases/2007+News+Releases/072507.htm" rel="nofollow">$301 million profit</a> last quarter. That's roughly 140K per hour, so it took about two and a half days for CP to make $10 million. Modest really. It only took <a href="http://media.corporate-ir.net/media_files/irol/13/130102/earnings/Q207_pr.pdf" rel="nofollow">Chevron</a> about four hours to make 10 million last quarter. <a href="http://library.corporate-ir.net/library/11/115/115024/items/255554/2Q07_Earnings_Press_Release.pdf" rel="nofollow">Exxon</a> did it in about two hours. For some perspective, consider that CP made $301 million profit last quarter. That’s roughly 140K per hour, so it took about two and a half days for CP to make $10 million.

Modest really. It only took Chevron about four hours to make 10 million last quarter. Exxon did it in about two hours.

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