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“Koch Brothers Positioned To Be Big Winners If Keystone XL Pipeline Is Approved”

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SolveClimateNews has an excellent article, on the Koch brothers and the Canadian heavy oil “Keystone XL” pipeline, that’s well worth reading. Here’s an excerpt:

The Keystone XL pipeline, awaiting a thumbs up or down on a presidential permit, would increase the import of heavy oil from Canada's oil sands to the U.S. by as much as 510,000 barrels a day, if it gets built.

[…]

The two [Koch] brothers together own virtually all of Koch Industries Inc. — a giant oil conglomerate headquartered in Wichita, Kan., with annual revenues estimated to be $100 billion.

A SolveClimate News analysis, based on publicly available records, shows that Koch Industries is already responsible for close to 25 percent of the oil sands crude that is imported into the United States, and is well-positioned to benefit from increasing Canadian oil imports.

A Koch Industries operation in Calgary, Alberta, called Flint Hills Resources Canada LP, supplies about 250,000 barrels of tar sands oil a day to a heavy oil refinery in Minnesota, also owned by the Koch brothers.

Also note that the Koch brothers are “the largest single oil and gas donor to members of the House Energy and Commerce Committee,” including “committee chairman, Fred Upton (R-Mich.), who though once a moderate is now leading the anti-regulatory charge in the Republican-dominated House.” The question is, what will President Obama and the U.S. government do with regard to this pipeline.  According to SolveClimateNews, “Obama has not shown his cards on the pipeline permit, even after Canadian Prime Minister Stephen Harper made a personal appeal for swift approval at a White House meeting last week.” Stay tuned.