The softer side of Conoco-Phillips

[Neecy]

I've been seeing a new ad for Conoco-Phillips that features a shot of an elderly man in a little fishing dinghy with some kid. Gauzy muzak plays while the voice-over whimsically informs us that he's teaching the lad the 'grandpa knot'.

The point of this giddy nonsense is that Conoco-Phillips is passing down a better world to the next generation by spending $150 million this year on the research and development of new energy sources and technologies. This represents a 50% increase in C-P spending from 2006. They've also joined the US Climate Partnership, a group of corporations and environmentalists working together to reduce greenhouse gas emissions.

Sounds swell, doesn't it? Until you do some research.

Compare the $150 million C-P brags about with the record profits they're reaped - $15.6 billion last year and $3.5 billion in the first quarter of 2007. $150 million, to Conoco-Phillips, is approximately the amount I spend for lattes each week.

Reference: Denver Post http://www.denverpost.com/headlines/ci_5971210

Their membership in the US Climate Partnership is also suspect. Note this stockholder proposal, filed in April of this year, asking Conoco-Phillips to begin disclosing payments made to Trade Associations. As the proposal states:

According to www.fecinfo.com, Conoco contributed at least $172,000 in soft money during the 2003-04 election cycle. However, its payments to trade associations used for political activities are un-disclosed. Disclosure is in the best interest of Conoco's shareholders. Absent a system of accountability, company assets can be used for policy objectives that are not shared by and may be inimical to the interests of Conoco and its shareholders.

Trade Associations engage in political activity that may support or conflict with Conoco's positions on important issues like climate change. For example, Conoco has committed to taking action to expand its business planning processes to address greenhouse gas emissions and to develop greenhouse gas targets for its operations. In contrast, the National Association of Manufacturers (NAM) - one of the largest trade associations in the United States - continues to take a strong position against action on climate change. Without disclosure, it is
impossible for shareholders to know whether Conoco is a member of NAM, and if so whether Conoco's payments to NAM are used for political purposes that conflict with company positions.

Reference: http://sec.edgar-online.com/2007/04/02/0001193125-07-071693/Section15.asp

Interesting, eh? So, there's a suspicion that C-P joined the US Climate Partnership for PR reasons while contributing to Trade Associations that undermine efforts to curb global warming.

Why would Conoco-Phillips need to undergo such a PR campaign, even going to far as to tout their paltry $150M 'green' investments and their new 'green' association?

Google "Conoco Phillips corporate polluter" and read many sorry tales.

*Conoco-Phillips ranks third on the list of worst corporate air polluters in the U.S. in terms of the amount and toxicity of pollution and the numbers of people exposed. Worse than Dow Chemical, worse than Archer Daniels Midland, worse than Georgia Pacific and worse than International Paper.

*ANWR driller, massive oil spills, multiple fatality explosions, OSHA fines, Groundwater suit, drilled in Natl Monument, seeks to drill in other protected sites, S. Am. Human rights/environmental violations, member of NWC (seeks to drill in wetlands and reduce clean water standards), Many safety violations, toxic dumping suit, etc.

*And possibly most embarrassing of all, Conoco-Phillips is being investigated for bribing a Bush administration official.

WASHINGTON -- A House committee will investigate and request documents on a real estate deal involving the government's top environmental prosecutor and ConocoPhillips' top lobbyist, and legal agreements between the government and the oil company.

The inquiry by the House Oversight and Government Reform Committee was announced hours after The Associated Press reported that the prosecutor, Sue Ellen Wooldridge, bought a $1 million vacation home on Kiawah Island, S.C., with ConocoPhillips Vice President Donald R. Duncan, nine months before agreeing to let the company delay a half-billion-dollar pollution cleanup. It was one of two proposed consent decrees Wooldridge signed with ConocoPhillips just before resigning last month.

http://seattletimes.nwsource.com/html/nationworld/2003573382_webscandal15.html

This story broke in February of this year and is still a hot potato for this 'green' company.

Don't be fooled by the gentle story of the 'grandpa' knot - because off-camera, grandpa has some explaining to do to this child.

[spag68]

1. The BP ads are even sicker then that.