How a new ‘golden rule’ is shaping oil and gas projects


From www.theglobeandmail.com |Published Wednesday, Aug. 06 2014, 1:23 PM EDT

“He who has the gold,” said the stunted king from the cartoon The Wizard of Id, “makes the rules.”

A growing number of institutional investors are heeding the king of Id’s sarcastic “golden rule.” But unlike Brant and Hart’s irreverent cartoon, the real-life outcome of shareholder activism – the influence of the guys with the gold – on big energy companies, may not be so funny. Today’s new rules are such that companies, guided by their vocal shareholders, are progressively shunning big, risky oil and gas projects that take forever to build. read more>


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