The Banks Financing the Dakota Pipeline*

Follow the money.

Hwaairfan's Blog

The Banks Financing the Dakota Pipeline*

As reported by Democracy Now! Hugh MacMillan of Food and Water Watch has been conducting an investigation into the financial institutions which are directly bankrolling the Dakota Pipeline. In an interview with Amy Goodman, MacMillan explains exactly how banks are involved in the venture, and which banks in particular have a stake in the DAPL.

According to MacMillan:

“Dakota Access, LLC, is a joint venture of Phillips 66 and a joint venture of two members of the Energy Transfer family—Energy Transfer Partners and Sunoco Logistics. Enbridge and Marathon Oil have bought into this, this joint venture. Together, they now have about a 37% stake in the pipeline, in the Dakota Access pipeline.”

MacMillan then goes on to explain that the banks involved are, in effect, investing into the venture in the hopes of making profits from the drilling and fracking operations that will send…

View original post 129 more words

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.