The report follows the start in March of the council's campaign, Vision 21, that urges a move away from high-tech, high-cost projects.
Vihstadt, a Republican running as an independent, parlayed his opposition to the Columbia Pike streetcar and other high-cost projects into victory.
We argue that coopetitors need to use CPT for high-risk and high-cost projects when the aim is to develop radical innovation.
Shareholders expect to see value for money and long-term strategic thinking in exchange for high pay packets – not the pursuit of high-risk, high-cost projects like the controversial Great Australian Bight proposal.
Many high-cost projects, including Arctic and deepwater drilling, tar sands and shale oil are unneeded and therefore uneconomic in the 2C scenario, the report found, although some are required to replace fields that are already depleting.
The proposals unveiled Tuesday to rebuild Lower Manhattan include a number of high-cost projects, including the burying of West Street, the acquisition of surrounding properties for residential use and the creation of a new subway and commuter rail hub.
They also include Western oil companies with high-cost projects involving drilling in deep water or in the Arctic, or dealing with maturing and increasingly expensive fields such as the North Sea.
These leading energy companies including Exxon Mobil should ditch high-cost projects in deep water and Canadian tar sands to concentrate on cheaper schemes that make money at low crude prices, says the report, Sense and Sensitivity, by the Carbon Tracker Initiative.
Although petroleum revenues continued to be a major source of income for Iran in the 1970s, world monetary instability and fluctuations in Western oil consumption seriously threatened the country's economy, which had been rapidly expanding since the early 1950s and was still directed in large part toward high-cost projects and programs.
Dropping prices could make such high-cost projects unviable.
