Save the Bay Appeals to Hess Shareholders
Wednesday, November 17, 2010
Save the Bay issued a letter to major Hess shareholders today detailing the faults of the corporation's proposal to build a liquefied natural gas terminal at Weaver's Cove in Fall River, MA.
The letter, available here, will be published in abridged form in tomorrow's regional edition of The Wall Street Journal.
In the letter, Save the Bay Executive Director Jonathan Stone urges shareholders to oppose the project, calling it "fatally flawed" due to extensive permitting obstacles, bipartisan political opposition, and insurmountable economic competition from recent developments in the regional energy market. He warns shareholders that their "money is being wasted."
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"It is now seven years since the Weaver's Cove project was first proposed to regulators," wrote Stone. "It will never see the light of day."
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