{"id":34309,"date":"2018-05-16T07:24:48","date_gmt":"2018-05-16T12:24:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34309"},"modified":"2018-05-16T07:24:48","modified_gmt":"2018-05-16T12:24:48","slug":"introducing-empire-oil-a-desmog-uk-special-investigation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34309","title":{"rendered":"Introducing Empire Oil: A DeSmog UK Special Investigation"},"content":{"rendered":"<h3 id=\"page-title\" class=\"page__title title\"><a href=\"https:\/\/www.desmog.co.uk\/2018\/05\/10\/introducing-empire-oil-desmog-uk-special-investigation\">Introducing Empire Oil: A DeSmog UK Special Investigation<\/a><\/h3>\n<article class=\"node-12920 node node-blog node-promoted view-mode-full clearfix\">\n<header>\n<p class=\"submitted desktop-only\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.desmog.co.uk\/sites\/beta.desmogblog.com\/files\/styles\/full_width_blog_image\/public\/blogimages\/Copy%20of%20London-Africa%20oil_Twitter_0.jpg?itok=lwQHty6z\" alt=\"African Oil Hub\" width=\"826\" height=\"413\" \/><\/p>\n<\/header>\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>The <span class=\"caps\">UK<\/span> likes to brag about its credentials as a global climate leader. But a new DeSmog <span class=\"caps\">UK<\/span> investigation reveals that beneath the green veneer lies some dirty\u00a0business.<\/p>\n<p>At the centre of it all is the City of London and its junior stock exchange, the Alternative Investment Market (<span class=\"caps\">AIM<\/span>).<\/p>\n<p>DeSmog <span class=\"caps\">UK<\/span>\u2019s new three-part investigative series <a href=\"https:\/\/www.desmog.co.uk\/empire-oil\" target=\"_blank\" rel=\"noopener\"><em>Empire Oil: London\u2019s Dirty Secret<\/em><\/a>, lifts the veil on a \u201cboys&#8217; club\u201d that generates wealth for The City from environmentally damaging activities in politically unstable\u00a0regions.<\/p>\n<p>Through detailed analysis of company activity and market data, it exposes how <span class=\"caps\">AIM<\/span>\u2019s \u201clight touch\u201d regulation and complex offshore company structures create an opaque corporate environment\u00a0in which conflicts of interest have been shown to\u00a0thrive.<\/p>\n<p>Part one, <a href=\"https:\/\/www.desmog.co.uk\/2018\/05\/09\/black-gold-mapping-london-s-african-oil-hub\" target=\"_blank\" rel=\"noopener\"><em>\u2018Black Gold\u2019: London\u2019s African Oil Hub<\/em><\/a>, maps the London oil companies operating in Africa. It\u00a0identifies:<\/p>\n<ul>\n<li>How the <span class=\"caps\">UK<\/span> government provides ongoing support for international fossil fuel exploration despite its domestic and international climate change\u00a0commitments;<\/li>\n<li>12 private and public limited oil and gas companies headquartered in London that have operations in Africa, all of which have ties to tax-havens in British overseas territories and crown\u00a0dependencies;<\/li>\n<li>The failure of international regulation to tackle issues regarding a lack of transparency for companies operating in unstable\u00a0markets.<\/li>\n<\/ul>\n<p>Part two, <em><a href=\"https:\/\/www.desmog.co.uk\/2018\/05\/09\/taking-aim-london-s-wild-west-stock-market\" target=\"_blank\" rel=\"noopener\">T<\/a><a href=\"https:\/\/www.desmog.co.uk\/2018\/05\/09\/taking-aim-london-s-wild-west-stock-market\" target=\"_blank\" rel=\"noopener\">aking <span class=\"caps\">AIM<\/span>: London\u2019s Wild West Stock Market<\/a><\/em>, lifts the lid on London\u2019s junior stock exchange, the Alternative Investment Market (<span class=\"caps\">AIM<\/span>). It\u00a0shows:<\/p>\n<ul>\n<li>A history of scandals and company collapse on <span class=\"caps\">AIM<\/span>, and a lack of public sanction and\u00a0enforcement;<\/li>\n<li>A \u201clight touch\u201d regulation system behind which companies are rarely named and shamed for abusing the\u00a0system;<\/li>\n<li>Fundamental problems with <span class=\"caps\">AIM<\/span>\u2019s regulators, known as nomads, that also act as company brokers and can have vested interests in the companies they\u00a0oversee;<\/li>\n<li>The potential for oil, gas, and mining companies to manipulate information about assets in politically unstable regions, and the obstacles to verification for\u00a0investors.<\/li>\n<\/ul>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Introducing Empire Oil: A DeSmog UK Special Investigation The UK likes to brag about its credentials as a global climate leader. But a new DeSmog UK investigation reveals that beneath the green veneer lies some dirty\u00a0business. At the centre of it all is the City of London and its junior stock exchange, the Alternative Investment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,4,5],"tags":[18,20145,5317,259,588,595,681,2080],"class_list":["post-34309","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-environment","category-geopolitics","tag-africa","tag-chloe-farand","tag-desmog-blog","tag-empire","tag-oil","tag-oil-production","tag-resources","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34309"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34309\/revisions"}],"predecessor-version":[{"id":34310,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34309\/revisions\/34310"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}