Keystone XL Pipeline Could Yield $100 Billion For Koch Brothers
Source: Huffington Post
Approval of the Keystone XL pipeline could generate $100 billion in profits for billionaire brothers Charles and David Koch, according to a report released Sunday, which revealed the extent to which the Kochs would benefit from the tar sands development the proposed pipeline would help spur.
A progressive think tank called the International Forum on Globalization completed the study, which found that the Kochs and their privately-owned company, Koch Industries, hold up to 2 million acres of land in Alberta, Canada, the proposed starting point of the Keystone XL. Several Koch Industries subsidiaries stand to benefit from the pipeline's construction, including Koch Exploration Canada, which would profit from oil development on its land, and Koch Supply and Trading, which would benefit from oil derivatives trading.
The report also estimates that the Koch brothers have given about $50 million to think tanks and members of Congress who have pushed for the pipeline to be built.
The Keystone XL pipeline is awaiting a final decision from the State Department, which is unlikely to come before 2014. If built, the pipeline would carry about 800,000 barrels of oil per day from Alberta to Gulf Coast refineries. Environmentalists worry about about the climate and environmental impacts the pipeline could have, including dramatically higher greenhouse gas emissions and a heightened risk of oil spills.
Read more: http://www.huffingtonpost.com/2013/10/21/keystone-xl-koch-brothers_n_4136491.html?utm_hp_ref=politics
Why are the Koch brothers spending millions of dollars backing the extreme fringe in an effort to attack Democrats and keep the federal government mired in crisis? Perhaps its because the millions they spend amounts to pennies on the dollar as an investment.
nightscanner59
(802 posts)ReRe
(10,597 posts)... Who wants to take tibs on whether it lands on the big MSM in the next day or two?
SoapBox
(18,791 posts)nightscanner59
(802 posts)Dirty little secrets
Dirty little lies
Koch's dirty little fingers in everybody's pie
they love to cut you down to size
they love dirty laundry
And there it is for you. Koch's and ilk have bought up controlling shares of practically all the media, and they are trying their best to buy PBS stations too.
Oh, hats off to Don Henley, totally plagarizing and twisting his words here...
okaawhatever
(9,462 posts)twitter, etc. It's our job to do what the media won't People will get worked up over $100 Billion.
ReRe
(10,597 posts)NealK
(1,870 posts)Dark n Stormy Knight
(9,760 posts)But it's still good to have one. At least it would be if people were to find out about it.
Stuart G
(38,436 posts)fasttense
(17,301 posts)2 men get monstrously wealthy from gobbling up the environment and making millions of other people suffer.
We can do better than capitalism.
Sunlei
(22,651 posts)Joe Shlabotnik
(5,604 posts)is virtually giving it away, and giving royalty holidays, tax breaks and granting sweeping investor protections in order to legitimize tar sand development. Not sure exactly where the Koch's land is, but it may have dual value to their pulp and paper interests as well.