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Seapeak 9 00 Cumulative Redeemable Perpetual Prf Shs Series A SEAL.P.A

Alternate Symbol(s):  SEAL.P.B

Seapeak LLC is an independent owner and operator of liquefied natural gas (LNG) carriers. The Company is engaged in providing liquefied gas services primarily under long-term, fee-based charters through its interests in approximately 49 LNG carriers (including five new buildings) and 42 liquefied petroleum gas (LPG), Ethane and multi-gas carriers (including four new buildings). It has ownership interests in these vessels range from 20 to 100 %. In addition, the Company also owns a 30 % interest in an LNG regasification terminal. The terminal comprises of a floating storage unit, an offshore LNG receiving jetty and breakwater, an adjacent regasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility, and an onshore nitrogen production facility. Its vessels include Al Areesh, Al Daayen, Al Huwaila, Al Kharsaah, Al Khuwair, Al Marrouna, Al Shamal, Alular, Antwerpen, BW Tokyo, Caesar, Chukar, Cougar, Cubal, Eduard Toll, and others.


NYSE:SEAL.P.A - Post by User

Post by EthicalInvestoron Aug 29, 1999 7:42am
751 Views
Post# 965652

Money In

Money Inhttps://www.igc.org/ran/info_center/factsheets/04f.html MONEY IN THE RAINFOREST The destruction of the rainforests is one of the most pressing environmental issues of our time. Even though we live far away from them and most of us have never visited them, many of us contribute to their destruction through our buying habits. More importantly, our own government and transnational corporations are often involved in the destruction, either directly or by financing ill-advised "development." The destruction of the rainforests should remind us of the unbalanced excesses of our society's consumption and an urgent need to live more lightly on the Earth. International Development Banks Before "development" (e.g. logging, mining, oil drilling and clearing large tracts of land for cattle ranches) can occur, the necessary infrastructure must be put in place. Highways must be cut through the virgin rainforest in order to gain access to mineral rich areas. Dams that drown vast areas must be constructed to generate the power needed by industry and for the workers brought in to run the new operations. The capital to finance these huge projects comes primarily from multinational corporations and international lending agencies such as the World Bank, whose policies were, until recently, anathema to the preservation of the forests and indigenous peoples. Although certain corporations and international financial institutions have recently become more sensitive to ecological issues and human rights, these gains have been the result of environmental activism and public opinion. The US is the primary financial contributor to the World Bank, and therefore has the largest bloc of votes. As a voter and taxpayer, you can apply effective pressure, through writing letters to the senators and representatives on the committees of Congress, which vote on US World Bank policy positions (the Foreign Relations Committee in the Senate and the Foreign Affairs Committee in the House). As the 1994 elected Congrees repeatedly demonstrated by its attempts to dismantle 25 years of environmental legislation, the battle against economic and political forces that assault the environment is far from won. Moreover, the economic issues seem to be poorly understood by most people, even those who are concerned with the fate of the world's forests. US Consumption Although Americans represent only 5% of the world's population, we consume at least 30% of the world's mineral and energy resources. Europeans live just as well using about half the energy and resources per capita. In order to waste less and slow the destruction of the planet, we must change the way we live. We can make changes step by step: become aware of what we are consuming; buy locally produced, non-processed, non-packaged foods whenever possible; invest in socially responsible local development; conserve energy; drive less; and recycle. Paper, aluminum and tin are products that in many cases come directly from the rainforests. Corporations in the Rainforest Transnational corporations in tropical countries contribute directly and indirectly to the destruction of the rainforests, along with wealthy nationals as well. Many of the big banks are there with their fingers deep in the pie. The impact of extracting products and resources from a rainforest ranges from minimal to devastating. Some items, such as Brazil nuts and rubber, can only be harvested from a thriving forest system. At the other extreme, timber extraction by clear-cutting and open-pit mining of ores result in wholesale environmental destruction. Because the list of corporations and products involved is so long, changes in our lifestyle are necessary. For instance, avoid canned goods or, at least, recycle the cans. Buy products made of bamboo or rattan and support enterprises that help sustain rainforests. Timber The history of US based transnational company involvement in tropical logging has not been a particularly successful one. Direct ownership and management of rainforest timber concessions has been far more extensive in the past than it is at present. Only a handful of US corporations currently log in tropical areas. Georgia-Pacific is responsible for clear-cutting in tropical countries which also has a history of union busting and price fixing in the United States. Most tropical timber imported into the US is in the form of plywood and paneling, produced in Indonesia, Malaysia, Taiwan and other Southeast Asian countries. These products are bought from state-run or domestic manufacturers. RAN has been working with the Forest Stewardship Council to certify logging on sustainably managed second growth forests in tropical countries, but until that program is operational, do not buy teak, mahogany, rosewood, ebony, iroko or other tropical woods. Wood-pulp and Wood-chip products Until recently, the tropical rainforests have not been exploited extensively for wood-pulp production to make paper and related products, because of the difficulty of using tropical hardwoods for such purposes. Now, however, "whole-tree utilization" (turning magnificent forest giants into wood-chips) is becoming increasingly popular. Japanese corporations have pioneered wood-chipping in Papua, New Guinea. The resulting pulp, produced in Japan, is used to manufacture disposable cardboard packaging. Large tracts of rainforest are in danger of being replaced by monocultural plantations of fast-growing, non-indigenous trees such as eucalyptus for paper-pulp production. Brazil may become one of the world's largest paper-pulp producers by the end of the century, almost certainly at the expense of rainforests. Most US based corporations involved in paper in the tropics, such as Kimberly Clark and St. Regis, are importing pulp for finished goods, and are not directly involved in pulp production. One US company, Scott Paper, is involved with developing plantations for pulp in the tropics. However, most of the paper companies are either present in the tropics or are importing products from them. Be frugal with paper products: Use tote bags instead of paper packaging; copy materials on both sides of a sheet of paper (and complain if the machine does not have such a "duplex" setting; recycle. Oil Exploration and production of oil represents one of the greatest threats to large areas of rainforest. The western perimeter of the Amazon basin is experiencing heavy penetration, degradation, pollution and incursion into tribal territories by oil companies. Many rainforest regions have been, or soon will be, affected: Conoco Inc., Occidental, and British Petroleum, for example, have been active in the Yasuni National Park in Ecuador; Chevron is exploring in the southern highlands of Papua New Guinea; Shell is also in Nigeria; and Exxon is involved in Columbia. By writing letters and speaking out whenever appropriate, put pressure on oil companies to be environmentally responsible. Also, use public transportation, carpool, walk or bicycle as much as possible. We desperately need to develop and implement alternative energy and transportation systems. Beef The clearing of rainforest land for cattle pasture is one of the largest destroyers of rainforest, especially in Central America and Brazil. This beef, cheaper than domestic meat, is imported into the US and used in processed beef products like hamburgers, luncheon meats, pet food, baby food, sausage and frozen dinners. Campbell's Soup uses rainforest beef. Burger King backed down on its use of rainforest beef after a Rainforest Action Network boycott. Unfortunately, once the beef is passed by USDA inspectors, it loses any label of country of origin. As a result, it is almost impossible to trace. The safest bet is to avoid all processed beef; as 300 million pounds are imported each year from Central America alone, it is likely that some will show up in many corporations' products from time to time. If you divest or boycott these companies or others, be sure to let them know. Get addresses from the sides of packages, or from a good corporate directory (see "Sources and ideas for further reading" below). Finally, you can contact us at Rainforest Action Network for more information on the "Hamburger Connection," on tropical timber, or about other rainforest issues. We'll also be happy to send you information about other ways to get involved. Each of us can make a difference. Often there aren't simple answers to the problem of ecological destruction - no single bad guy, no easy target. But whatever the issue, one thing we can always change is our own actions. And with the rainforests, as in so many other areas, many of our choices and activities have consequences well beyond our own lives. Sources and ideas for further reading: Ackerman, Diane. The Rarest of the Rare: Vanishing Animals. 1995. Timeless World. New York. Random House. Bevis, William W. Borneo Log: The Struggle for Sarawak's Forests. 1995. Seattle. University of Washington Press. Caufield, Catherine. In the Rainforest. 1991. Chicago. University of Chicago Press. Dalton, Stephen. Vanishing Paradise: The Tropical Rainforest. 1990. Woodstock, New York. Overlook Press. Devall, Bill ed. Clearcut: The Trajedy of Industrial Forestry. 1993. San Francisco. Sierra Club Books & Earth Island Press. Draffan, George. Wasting the Earth: A Directory of Multinational Corporate Activities. 1993. Seattle. Institute on Trade Policy Task Force on Multinational Corporations. Head, Suzanne and Heinzman, Robert. Lessons of the Rainforest. 1990. San Francisco. Sierra Club Books. Lowe, Janet. The Secret Empire: How 25 Multinationals Rule the World. 1992. Homewood, IL. Business One Irwin. MacEachern, Diane. Save Our Planet: 750 Everyday Ways You Can Help Cleanup The Earth. 1995. New York. Dell Publishing. Nichol, John. The Mighty Rainforest. 1994. Newton Abbot. David and Charles Press. Ridgeway, James. Who Owns the Earth. 1980. New York. Collier Books. Written and Compiled by Thomas Wolski Edited by William Velton 7/96 © 1996 Rainforest Action Network
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