Welcome to the weekend edition, a small collection of links to interesting personal finance related articles and economic news from around the web.
On December 1st, the giant cosmetic company Avon decided to boycott the oil sands of Alberta.
“We’ve asked our transportation partners to take steps that will avoid high-impact, high-carbon fuels such as those from the tar sands,” said Avon vice-president Tod Arbogast.
Let’s dwell a little bit on the decision of “the company for women”. To start, I currently have no investments in oil sands so I do not have a conflict of interest here. In 2010, 23% of daily US oil imports came from Canada and 15% came from the Middle East. Obviously, the oil sands contribute a big chunk of Canada’s growing oil exports to the US. Would the US be better off importing more from the Middle East to replace the tar sands? Does Avon feel good about buying more oil from oppressive regimes with a questionable ideology? Maybe Avon, the company for women, doesn’t really care about these second class citizens (the women) living there and was just looking for a cheap PR stunt to score quick points with the tree huggers. Talk about a company who values its profits. Oh Wait! They all do, but most are actually smart about how they do it.
The oil sands are not very environmentally friendly, they’re not perfect. Sure a couple of ducks got killed as a result and one should not dwell on that for too long. Dwell on oil exporters such as Sudan, Saudi Arabia and Iran. Need I expand more on these countries? I sure prefer ethical oil from Canada over oil from any of these countries until an alternative is available that would help us shut down the oil sands and make it a thing of the past.
On to our weekly blog roundup:
101 Centavos: Investing in Uranium
The Wealth Artisan: How To Find a Job
Enjoy your Weekend!