Dominion Resources, the third-largest public utility in the U.S., held its annual shareholder’s meeting in Pittsburgh on Tuesday where president & CEO Thomas Farrell announced plans to expand natural gas pipeline and processing projects in every state where there is Marcellus and Utica Shale.
Ten company-endorsed candidates were voted on and approved for the board of directors. But six shareholder proposals, largely anti-drilling in sentiment, were voted down:
The proposals sought to have Dominion research alternative energy sources, and requested a report on mountaintop-removal mining’s effects on local ecology and a study on the effect that closing power plants can have on neighboring communities.
Another asked for a report on the financial and societal risks of natural gas extraction, while another shareholder sought to have the board do a cost-benefit analysis of all energy sources and not be afraid to seek unconventional sources.
One shareholder, Ruth McElroy Amundsen, urged attendees to read a book "outside your comfort zone" and even brought 120 books on energy policy to hand out for free.*
*Pittsburgh Post-Gazette (May 9, 2012) – Dominion plans shale expansion