Outing the Oligarchy - International Forum on Globalization

— INDIVIDUALS OF UNDUE INFLUENCE —
Environment: Industrias Penoles has been involved in frequent controversies over its mining practices. In
1999, a Mexican federal court ordered <strong>the</strong> company to set up a $6.4 million healthcare fund to treat victims
and relocate people living near <strong>the</strong> company’s toxic slag-heap in Torreon, a town in <strong>the</strong> Mexican state of
Coahuila. The ruling, which capped a 15-year campaign by poor neighborhood residents, was bolstered by
scientific studies that found high levels of lead in childrens’ blood. However, controversy continues, as
Mexican authorities have accused <strong>the</strong> company of failing to comply with <strong>the</strong> court order. The company has
lots of green-washing material on its website. 72
JOHN FREDRIKSEN, CYPRUS
$10.7 BILLION [AS OF MARCH 2011]
Wealth: John Fredriksen is <strong>the</strong> world’s leading oil tanker tycoon, a double-whammy for <strong>the</strong> climate due to
dirty bunker fuel burning in cargo ships as well as <strong>the</strong> high carbon content of oil tankers. Norwegian-born
Fredriksen was Norway’s richest man until he chose to abandon his Norwegian citizenship and take up a
Cypriot passport. Through his investment companies Hemen Holdings and Meisha, Fredriksen controls <strong>the</strong>
companies Frontline and Golar LNG from his £100 million, 30,000-square-foot Chelsea home in London.
He also has major interests in <strong>the</strong> oil platform operator SeaDrill, container shipper Tui, Marine Harvest (<strong>the</strong>
world’s largest seafood company and its biggest salmon farmer), <strong>the</strong> dry bulk company Golden Ocean Group,
and <strong>the</strong> world’s largest shipholding company, Overseas Shipholding Group.
Power Network: Fredriksen made his fortune during <strong>the</strong> Iran-Iraq wars in <strong>the</strong> 1980s when his tankers
picked up Iranian oil at great risk and huge profits. As described by his biographer, “He was <strong>the</strong> lifeline to <strong>the</strong>
Ayatollah.” 73
Environment: Marine Harvest was targeted by <strong>the</strong> Pure Salmon Campaign Coalition, a group that works to
eliminate destructive environmental practices by separating farmed fish from wild fish populations and
finding new sources of fish feed. 74 Between 2005 and 2009, at least seven Marine Harvest workers and
contractors died on <strong>the</strong> job. 75 Golden Ocean has an “environment“ score of 28 and a “water transportation”
score of 47 on <strong>the</strong> CSR Hub. Golden Ocean does not appear on <strong>the</strong> Dow Jones Sustainability Index. 76
Marine Harvest has an environment rating of 46 on <strong>the</strong> CSR Hub. 77 It does not appear on <strong>the</strong> Dow Jones
Sustainability Index. As a petroleum war profiteer who has benefited from <strong>the</strong> global expansion of oil trade,
Fredriksen’s fossil fuel footprint is immeasurably large and deep.
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