The Banks Financing the Dakota Pipeline*

Posted: September 15, 2016 in Uncategorized

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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…

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