Quantcast
Environmental News for a Healthier Planet and Life

New Report Reveals Koch Brothers Could Make $100B Profit if Keystone XL Pipeline is Built

Energy

The progressive think tank International Forum on Globalization (IFG) released a report today investigating how Koch Industries and its subsidiaries stand to make as much as $100 billion in profits if the Keystone XL pipeline is built. The report, Billionaires' Carbon Bomb: The Koch Keystone XL Pipeline, finds that the Kochs hold up to 2 million acres in Alberta and have spent upwards of $50 million on Congress and think tanks that heavily push for the pipeline.

A Google map showing the Koch assets in the tar sands region as well as interests along the proposed Keystone XL pipeline. Image credit: International Forum on Globalization

The Kochs have long been one of the largest players in the tar sands region of Alberta, Canada, according to a IFG press release. The report connects the Kochs’ 50 year history and large footprint in the Canadian tar sands to the current debate about the Keystone XL pipeline.

“The Kochs have repeatedly claimed that they have no interest in the Keystone XL pipeline, this report shows that is false,” said Victor Menotti, executive director of IFG.

“We noticed Koch Funded Tea Party members and think tanks pushing for the pipeline. We dug deeper and found $100 billion in profits, $50 million sent to organizations supporting the pipeline, and perhaps 2 million acres of land. That sounds like an interest.”

Other findings in the report include:

  • The Kochs will earn 1 million times more than the average worker of the pipeline.
  • The Kochs alone own more than 19 billion metric tons of carbon emissions in their tar sands holdings.
  • Think tanks funded by the Kochs have released nearly 1,000 pro-Keystone XL reports or statements.
  • Kochs have already made billions from insider trading and stand to do that again with tar sands.
  • Koch Industries has a history of violence against people and the environment.
  • The Koch Brothers seek to alter the public debate and control the policy debates in Washington.

"The past two weeks of the government shutdown brought to light the irresponsible influence of Koch-funded groups," said Jane Kleeb, director of Bold Nebraska.

"Rewarding the Koch Brothers with Keystone XL, who at every turn fund campaigns to mislead Americans on everything from climate to gas prices, is like the President advocating for Sen. Cruz to be the Majority Leader. It makes no sense. Farmers and ranchers in Nebraska are depending on President Obama to see our national interest is not served with a pipeline that lines the pockets of climate deniers and foreign oil."

EcoWatch Daily Newsletter

Deserted view of NH24 near Akshardham Temple on day nine of the 21-day nationwide lockdown to curb the spread of coronavirus on April 2, 2020 in New Delhi, India. Raj K Raj / Hindustan Times via Getty Images

India is home to 21 of the world's 30 most polluted cities, but recently air pollution levels have started to drop dramatically as the second-most populated nation endures the second week of a 21-day lockdown amidst coronavirus fears, according to The Weather Channel.

Read More Show Less
A Unicef social mobilizer uses a speaker as she carries out public health awareness to prevent the spread and detect the symptoms of the COVID-19 coronavirus by UNICEF at Mangateen IDP camp in Juba, South Sudan on April 2. ALEX MCBRIDE / AFP / Getty Images

By Eddie Ndopu

  • South Africa is ground zero for the coronavirus pandemic in Africa.
  • Its townships are typical of high-density neighbourhoods across the continent where self-isolation will be extremely challenging.
  • The failure to eradicate extreme poverty is a threat beyond the countries in question.
Read More Show Less
Sponsored
The outside of the Food and Drug Administration headquarters in White Oak, Md. on Nov. 9, 2015. Al Drago / CQ Roll Call

The U.S. Food and Drug Administration has approved the use of two malarial drugs to treat and prevent COVID-19, the respiratory infection caused by the SARS-CoV-2 coronavirus, despite only anecdotal evidence that either is proven effective in treating or slowing the progression of the disease in seriously ill patients.

Read More Show Less
Some speculate that the dissemination of the Antarctic beeches or Nothofagus moorei (seen above in Australia) dates to the time when Antarctica, Australia and South America were connected. Auscape / Universal Images Group / Getty Images

A team of scientists drilled into the ground near the South Pole to discover forest and fossils from the Cretaceous nearly 90 million years ago, which is the time when dinosaurs roamed the Earth, as the BBC reported.

Read More Show Less
The recovery of elephant seals is one of the "signs of hope" that scientists say show the oceans can recover swiftly if we let them. NOAA / CC BY 2.0

The challenges facing the world's oceans are well known: plastic pollution could crowd out fish by 2050, and the climate crisis could wipe out coral reefs by 2100.

Read More Show Less