Quantcast
Powered by RebelMouse
Energy
Stefanie Spear
Oct. 20, 2013 06:59PM EST

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

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."

Show Comments ()
Sponsored
Climate
Rice University marine biologist Adrienne Correa takes samples at a reef in Flower Garden Banks. Jesse Cancelmo / Rice University

Hurricane Harvey Runoff Threatens Coral Reefs

Hurricane Harvey's record rains didn't just unleash a torrent of floodwaters into the Gulf of Mexico—this freshwater could be harming coral reefs which require saltwater to live, according to new research.

After Harvey dumped more than 13 trillion gallons of rain over southeast Texas, researchers detected a 10 percent drop in salinity at the Flower Garden Banks National Marine Sanctuary, located 100 miles off the coast of Galveston, Texas.

Keep reading... Show less
Trump Watch

Pruitt Wants to Make the EPA Less Accountable to the Public

When the U.S. Environmental Protection Agency (EPA) breaks the law by missing deadlines, allowing polluters to violate regulations that protect our health and environment, one way the public holds it accountable is by taking the agency to court. Scott Pruitt and his corporate polluter allies see this as a problem, so Monday, the administrator moved to curtail the agency's practice of settling lawsuits with outside groups, making it easier to skirt the law.

"Pruitt's doing nothing more than posturing about a nonexistent problem and political fiction," John Walke, director of the Natural Resources Defense Council's Climate and Clean Air program said in reaction. "His targeting of legal settlements, especially where EPA has no defense to breaking the law, will just allow violations to persist, along with harms to Americans."

Keep reading... Show less
Energy
Oil on the surface of the Gulf of Mexico after the 2010 Deepwater Horizon disaster. Julie Dermansky

Nearly 400,000 Gallons of Oil Spews Into Gulf of Mexico, Could Be Largest Spill Since Deepwater Horizon

Last week, a pipe owned by offshore oil and gas operator LLOG Exploration Company, LLC spilled up to 393,000 gallons of oil into the Gulf of Mexico, reminding many observers of the Deepwater Horizon explosion seven years ago that spewed approximately 210 million gallons of crude into familiar territory.

Now, a report from Bloomberg suggests that the LLOG spill could be the largest in the U.S. since the 2010 BP blowout, according to data from the U.S. Bureau of Safety and Environmental Enforcement (BSEE).

Keep reading... Show less
Food
Shutterstock

Big Food Is Worried About Millennials Avoiding Animal Products

By Nathan Runkle

Hundreds of leaders from fast-food chains, marketing agencies and poultry production companies recently gathered in North Carolina for the 2017 Chicken Marketing Summit to play golf and figure out how to make you eat more animals.

One session focused on marketing chicken to millennials. Richard Kottmeyer, a senior managing partner at Fork to Farm Advisory Services, explained to the crowd that millennials are "lost" and need to be "inspired and coached." His reasoning? Because there are now "58 ways to gender identify on Facebook." Also, because most millennial women take nude selfies, the chicken industry needs to be just as "naked" and transparent.

Keep reading... Show less
Sponsored
Climate
Matthew Claaargghk / Twitter‏

Strange Days: Ex-Hurricane Ophelia Batters Ireland Under Orange Skies

By Dr. Jeff Masters and Bob Henson

Ex-Hurricane Ophelia hit Ireland hard with full hurricane-like fury on Monday, bringing powerful winds that caused widespread damage and power outages. At least two deaths have been reported from trees falling on cars, and The Irish Times said at least 360,000 ESB Networks customers lost power in Ireland because of the storm.

Keep reading... Show less
GMO
PBouman / Shutterstock

EPA Limits Use of Problematic Herbicide Dicamba—But Is That Enough?

By Dan Nosowitz

Dicamba has been in use as a local pesticide for decades, but it's only recently that Monsanto has taken to using it in big, new ways. The past two years have seen the rollout of dicamba-resistant seed for soybean and cotton, as well as a new way to apply it: broad spraying.

But dicamba, it turns out, has a tendency to vaporize and drift with the wind, and it if lands on a farm that hasn't planted Monsanto's dicamba-resistant seed, the pesticide will stunt and kill crops in a very distinctive way, with a telltale cupping and curling of leaves, as seen above. Drift from dicamba has affected millions of acres of crops, prompting multiple states to issue temporary bans on the pesticide. Farmers have been taking sides, either pro-dicamba or anti, and at least one farmer has been killed in a dispute over its use.

Keep reading... Show less
Sponsored
Popular
Runoff from a farm field in Iowa during a rain storm. Lynn Betts / U.S. Department of Agriculture, Natural Resources Conservation Service

Drinking Water for Millions in Rural America Contaminated With Suspected Carcinogen

Drinking water supplies for millions of Americans in farm country are contaminated with a suspected cancer-causing chemical from fertilizer, according to a new report by the Environmental Working Group.

The contaminant is nitrate, which gets into drinking water sources when chemical fertilizer or manure runs off poorly protected farm fields. Nitrate contaminates drinking water for more than 15 million people in 49 states, but the highest levels are found in small towns surrounded by row-crop agriculture. Major farm states where the most people are at risk include California, Iowa, Illinois, Wisconsin and Kansas.

Keep reading... Show less
Trump Watch
www.youtube.com

Trump's Approval Rating on Hurricane Response Sinks 20 Points After Puerto Rico

President Trump's approval rating for overseeing the federal government's response to hurricanes fell by 20 points after Hurricane Maria devastated Puerto Rico, a CNN poll conducted by SSRS revealed.

Trump's approval rating for responding to hurricanes Harvey and Irma stood at 64 percent in mid-September. Just a month later, the rating dropped to 44 percent.

Keep reading... Show less
Sponsored

mail-copy

Get EcoWatch in your inbox