Study: Koch Brothers Could Make $100 Billion if Keystone XL Pipeline Approved

picture-8-1346574554.jpg
on
A new study released today concludes that Koch Industries and its subsidiaries stand to make as much as $100 billionย in profits if the controversial Keystone XL pipeline is granted a presidential permit from U.S. President Barack Obama.ย 
ย 
The report, titled Billionaires’ Carbon Bomb, produced by the think tank International Forum on Globalization (IFG), finds that David and Charles Koch and their privately owned company, Koch Industries, own more than 2 million acres of land in Northern Alberta, the source of the tar sands bitumen that would be pumped to the United States via the Keystone XL pipeline.ย 
ย 
(Click to expand or see original source)
ย 
IFG also finds that more than 1,000 reports and statements in support of the Keystone XL pipeline project have been made by policy groups and think tanks that receive funding from the Koch brothers and their philanthropic foundations.ย 

โ€œThe Kochs have repeatedly claimed that they have no interest in the Keystone XL Pipeline, this report shows that is false,โ€ said Nathalie Lowenthal-Savy, a researcher with IFG.

โ€œWe noticed Koch Funded Tea Party members and think tanks pushing for the pipeline. We dug deeper and found $100 billion in potential profit, $50 million sent to organizations supporting the pipeline, and perhaps 2 million acres of land. That sounds like an interest to me.โ€

Nathalie continued, โ€œWe all know they will use that money to fund and expand their influence network, subvert democracy, crush unions like in Wisconsin, and get more extremists elected to congress.โ€

ย 
ย 
ย 
picture-8-1346574554.jpg
Kevin is a contributor and strategic adviser to DeSmog. He runs the digital marketing agency Spake Media House. Named a โ€œGreen Heroโ€ by Rolling Stone Magazine and one of the โ€œTop 50 Tweetersโ€ on climate change and environment issues, Kevin has appeared in major news media outlets around the world for his work on digital campaigning. Kevin has been involved in the public policy arena in both the United States and Canada for more than a decade. For five years he was the managing editor of DeSmogBlog.com. In this role, Kevinโ€™s research into the โ€œclimate denial industryโ€ and the right-wing think tank networks was featured in news media articles around the world. He is most well known for his ground-breaking research into David and Charles Kochโ€™s massive financial investments in the Republican and tea partyย networks. Kevin is the first person to be designated a โ€œCertified Expertโ€ on theย political and community organizing platformย NationBuilder. Prior to DeSmog, Kevin worked in various political and government roles. He was Senior Advisor to the Minister of State for Multiculturalism and a Special Assistant to the Minister of State for Asia Pacific, Foreign Affairs for the Government of Canada. Kevin also worked in various roles in the British Columbia provincial government in the Office of the Premier and the Ministry of Health. In 2008 Kevin co-founded a groundbreaking new online election tool called Vote for Environment which was later nominated for a World Summit Award in recognition of the worldโ€™s best e-Content and innovative ICTย applications. Kevin moved to Washington, DC in 2010 where he worked for two years as the Director of Online Strategy for Greenpeace USA and has since returned to his hometown of Vancouver, Canada.

Related Posts

on

One of the sponsors of the UK pavilion has worked with major polluters to help them extract more oil and gas.

One of the sponsors of the UK pavilion has worked with major polluters to help them extract more oil and gas.
on

The Heritage Foundationโ€™s Project 2025 blueprint proposes sweeping anti-climate policies.

The Heritage Foundationโ€™s Project 2025 blueprint proposes sweeping anti-climate policies.
on

This story was published in partnership with Gen Dread and a video version will be available online on November 16 as part of the Climate Consciousness Summit 2024, staged by the Pocket Project in...
on

Campaigners say the European Commission has โ€œcompletely embarrassed itselfโ€ by offering โ€œflimsy excusesโ€ for taking oil and gas lobbyists to the flagship summit.

Campaigners say the European Commission has โ€œcompletely embarrassed itselfโ€ by offering โ€œflimsy excusesโ€ for taking oil and gas lobbyists to the flagship summit.