One of Norway's largest private investors, Jens Ulltveit-Moe, recently called energy exploration in the Arctic "a licence to lose money".Oil is not the only extractive industry in trouble.
In a conversation over mate, the ubiquitous herbal brew, the two described what they see as a direct line between the Canadian mine company that has set up shop in the mountains above their town, and the huge amounts of carbon emissions created by the extractive industry in general.
The path that Patagonia is taking is the only one that will lead to the evolution of a major industry - one is second only to the extractive industry in damages when it comes to the environment and labor rights - to work more for global development goals.
These should pass: Britain and France, with the largest extractive industries in Europe, support them.
The pressure to develop this route is intense, thanks largely to mining and other extractive industries in Uganda.
Profits, which authorize the removal of timber, minerals, oil, gas, game, or other substances from a parcel of land, are used primarily in the extractive industries, in the timber industry, and for recreational hunting and fishing.
He relied on World Bank research for a recent report -- commissioned by Oxfam America, Friends of the Earth, Environmental Defense, Catholic Relief Services and the Bank Information Center -- that sharply criticizes the impact of extractive industries in Africa.
Ms. Thomas, a political economist at the University of Maryland, concluded that the bank should stop financing these so-called extractive industries in countries "whose governments lack the capacity to benefit from or manage such investment".
The insatiable global appetite for gold, silver and other minerals is powering extractive industries in countries with weak institutions, and is linked to at least 150 deaths since 2002.
China is pouring hundreds of millions into developing oil in Niger, but none has been extracted yet, said Malam Brah Mamadou, a member of a local organization that keeps close watch on extractive industries in Niger.
Governmental inaction also greeted the findings of the House of Commons' business, innovation and skills select committee, whose report last October on the activities of the extractive industries in the UK and around the world supported calls by NGOs for closer scrutiny of London-listed companies, but tiptoed around some of the nitty-gritty issues.
