US Oil Sands stock drops 13% day nonviolent direct action shuts down mine

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Submitted by editor on Mon, 08/12/2013 - 11:31
US Oil Sands stock drops 13% day nonviolent direct action shuts down mine
by kcsg.com news
Published - 08/04/13

(SALT LAKE CITY, Utah) - Investors took notice Monday of the potential for severe financial losses caused by an ongoing direct action campaign to stop tar sands development on the Coloardo Plateau.

US Oil Sands stock price on the Toronto Stock Exchange closed July 26 at $0.115. As people rolled-out onto the mine site in the Book Cliffs of Utah to enforce a full-day work stoppage, US Oil Sands stock price had dropped to $0.10 (source: Toronto Stock Exchange), down 50% from the company's 52-week high.

"Investors have taken notice that these tar sands and oil shale projects in Utah will be made impossible," says Peaceful Uprising's Melanie Martin. "The fools-gold nature of these resources, the dangerous potential to poison air and water as well as the people's drive to prevent their progress all add up to an investment blackhole."

People overtook US Oil Sands operation and peacefully insisted that workers turn off the machines. After shutting down operations at the tar sands test pit, they moved on to shutting down operations at the Seep Ridge Road expansion project, a project intended to spur mining and fracking operations in the region.

For more information about the action, go to http://www.peacefuluprising.org/ActionCampAction

 

http://www.kcsg.com/view/full_story/23284210/article-US-Oil-Sands-stock-...