EXTRACTED: Daily News Clips 4/12/22
PIPELINE NEWS
S&P Global: FERC approval boosts outlook for Mountain Valley pipeline, but hurdles remain
Bloomberg: Regulators’ Pipeline Order Seen as Olive Branch to Manchin
Bluefield Daily Telegraph: Senator Manchin praises FERC approval of Mountain Valley Pipeline
CTV: U.S. senator visiting Alberta oilsands amid energy security concerns
The Detroit News: Fate of Line 5 tunnel project awaits decision by key Michigan panel
LeMars Sentinel: Community concerns voiced over CO2 pipeline
Summit-Tribune: Hancock County drops ISG, partners with Synder & Associates to inspect pipeline
Pipeline Fighters Hub: Webinar: Landowners United to Stop Pipelines (April 12, 2022)
WASHINGTON UPDATES
STATE UPDATES
Capital and Main: A Hollow Boom for New Mexico: Oil production and rhetoric are up — but jobs and investments? Not so much.
EXTRACTION
Guardian: No 10 condemns ‘guerrilla tactics’ as Just Stop Oil activists block fuel depots
Bioenergy News: Waste Connections of Canada, Enbridge to develop RNG facility
Toronto Star: Real estate development investment will help First Nation mitigate oil price rollercoaster
CLIMATE FINANCE
Bloomberg: Oil Climate Disclosures Riddled With ‘Questionable Claims,’ Study Finds
Bloomberg: Banks’ Net-Zero Lending Ambitions Hit Snags in Oil-Rich Canada
Facebook: Rainforest Action Network - RAN: We made a mural using wildfire ash outside of the largest annual insurance industry conference!
Global Construction Review: Allianz is latest insurer to reject major African oil pipeline
TODAY IN GREENWASHING
Pilot Independent: Enbridge donates to Walker Food Shelf
OPINION
The Globe: Letter: We should ask more questions about proposed carbon pipeline
CNN: Opinion: The best solution to high gas prices: tax the oil companies
PIPELINE NEWS
S&P Global: FERC approval boosts outlook for Mountain Valley pipeline, but hurdles remain
Corey Paul, 4/11/22
“The Federal Energy Regulatory Commission has approved Mountain Valley Pipeline's request to change water crossing methods in a decision that cleared one obstacle for the long-delayed natural gas pipeline project,” S&P Global reports. “...The 2-Bcf/d, 304-mile gas pipeline project is almost complete, but litigation and permitting challenges delayed work on the final pieces. The FERC authorization was conditional pending new approvals from the US Fish and Wildlife Service under the Endangered Species Act, forest crossing authorizations from the US Forest Service and US Bureau of Land Management, and a water crossing permit by the US Army Corps of Engineers… “FERC unanimously approved Mountain Valley's alternative water crossing method at a time when the commission's Democratic majority has faced criticism over the FERC approach to permitting natural gas infrastructure. The criticism from lawmakers and industry has intensified as Russia's invasion of Ukraine caused a surge in European demand for US gas… “Analysts at ClearView Energy Partners said the authorization was "very constructive to the project's outlook," though "hurdles remain." "FERC's order does not put MVP back into the field with new construction authorizations, but we do think it represents substantial evidence of federal regulatory support for the project," ClearView analysts said in an April 9 note to clients.
Bloomberg: Regulators’ Pipeline Order Seen as Olive Branch to Manchin
4/11/22
“A new order from federal energy regulators on the Mountain Valley Pipeline doesn’t mean the project will be completed—but it boosts the long-delayed pipeline’s prospects and is being seen as an olive branch to a powerful lawmaker: Sen. Joe Manchin (D-W.Va.),” Bloomberg reports. “The Federal Energy Regulatory Commission order allows the Mountain Valley Pipeline to change its construction methods and is just one of the key authorizations sought by the much-debated $6.2 billion, 304-mile natural gas pipeline project. Yet FERC’s unanimous approval, issued late Friday, appeased Manchin, the chair of the Senate Energy and Natural Resources Committee.
Bluefield Daily Telegraph: Senator Manchin praises FERC approval of Mountain Valley Pipeline
CHARLES BOOTHE, 4/12/22
“Completion of the Mountain Valley Pipeline may have an easier path after a new FERC (Federal Energy Regulatory Commission) approval, but hurdles still remain,” the Bluefield Daily Telegraph reports. “Sen. Joe Manchin, D.W.Va., chair of the Senate Energy and Natural Resources Committee and proponent of the 303-mile natural gas pipeline that runs from North Central West Virginia to Chatham, Va., praised a Friday order by FERC “progressing” the pipeline’s construction. “I’m glad to see FERC make the correct decision today by issuing a unanimous order in favor of progressing construction of the Mountain Valley Pipeline,” Manchin said. “MVP is a strategically important project for the energy and national security of our country and will play a critical role in our ability to support our European allies as they eliminate their use of Russian energy.” But the process is not over. “Unfortunately, there are still several additional steps that need to be taken by the Administration to get this critical project — which would put an additional two billion cubic feet of natural gas into the market within a matter of months — complete,” he said. “I continue to call for the full approval of the MVP so we are able to domestically produce the natural gas we need today and support our energy and climate goals for decades to come as we advance innovative solutions like hydrogen.” “...Opponents of the MVP have released statements on the new FERC approval. “FERC has put the cart before the horse here, giving Mountain Valley another authorization with so many permits still outstanding,” Roberta Bondurant, Co-Chair of the Protect Our Water, Heritage, Rights (POWHR) Coalition, told the Telegraph. “Going forward, we call on regulators to give greater scrutiny to this ill-advised project. We will not allow the noxious injustice that is the Mountain Valley Pipeline to continue to threaten our homes, waters and planet.”
CTV: U.S. senator visiting Alberta oilsands amid energy security concerns
Austin Lee, 4/11/22
“U.S. Sen. Joe Manchin, chair of the Senate Committee on Energy and Natural Resources, is in Alberta to meet with Premier Jason Kenney, Energy Minister Sonya Savage, and key oil and gas stakeholders as concerns around energy security continue,” CTV reports. “Manchin's visit comes as American officials are reportedly calling on Canada to increase oil and gas exports to help fill a void left by the U.S. banning all Russian energy imports. Canadian officials say domestic industries have the capacity to "incrementally increase" oil and gas exports to the U.S. by up to 300,000 barrels per day utilizing the infrastructure that is already in place. But Premier Jason Kenney says that total won't do much to meet American demand. "Our message to the administration is, help us help you displace a dictator's oil, not just from Russia, but from OPEC," Kenney said. "If we saw a signal from Washington about a willingness to build another major pipeline, the energy companies would respond by investing and expanding their current production." Manchin, a senior Democrat Senator from West Virginia, has previously called on the White House to reverse its decision to cancel the Keystone XL pipeline… “Louisiana Senator Bill Cassidy, an advocate for the Keystone project, told CTV the White House won't revive the pipeline because it doesn't want to upset progressive Democrats. "The administration is going to say it is too late because the administration is going to want to save face," Cassidy said in an interview with CTV News.”
The Detroit News: Fate of Line 5 tunnel project awaits decision by key Michigan panel
Leonard N. Fleming, 4/9/22
“The fate of a controversial tunnel project for Line 5 is in the hands of the Michigan Public Service Commission, which could decide as early as this summer if the tunnel construction will move forward,” The Detroit News reports. “Michigan Gov. Gretchen Whitmer and Attorney General Dana Nessel, both Democrats, have sought to shut down the line that can carry about 540,000 barrels a day of oil and natural gas liquids through the Straits of Mackinac… “Opponents argue it would end the dependence on fossil fuels that has led to significant problems with the Earth's climate. A 12,000-pound anchor struck the line in 2018, slicing cables and denting one of the dual pipelines, but no rupture occurred. "I think it's a little bit more critical for this commission if they decide against this tunnel because that kills it in its tracks," Sean McBrearty, the state legislative and policy director of Clean Water Action Michigan that wants the pipeline closed, told the News. "I think the commissioners are going to take their time. They've been very serious and engaged on this." “...Christopher Clark, an attorney for Earthjustice which has represented the Bay Mills Indian Community of Michigan with the commission, told the News the Native Americans are vehemently opposed to the tunnel for cultural and historical reasons as well as the risk a significant spill or explosion would ruin their livelihood on the water. "This idea of a liquid pipeline that transports, among other things, liquid propane in an enclosed tunnel presents safety risks," Clark told the News. "This kind of pipeline has never been constructed anywhere in the world and that if you have a leak of product inside that tunnel...if you have an ignition event, you have an explosion."
LeMars Sentinel: Community concerns voiced over CO2 pipeline
Beverly Van Buskirk, 4/11/22
“Nearly 50 people, most of them landowners whose property will be affected by a proposed CO2 pipeline, attended an informational project update by Summit Carbon Solutions,” the LeMars Sentinel reports. “...Summit Carbon Solutions Vice President of Government & Public Affairs Jake Ketzner, spoke to those gathered about where in the process the project is, and to give landowners time to ask questions during the group session, or individually following a noon meal… “We have already signed up just shy of 20 percent of our Iowa landowners for our project for voluntary easements to date,” Ketzner said. “As of last night (April 6) in O’Brien County, which is actually our best county, we have signed up 40 percent of those landowners. We’re really making great progress throughout the state.” To date, Summit has already dispersed over $25 million to landowners, with all the risk on the company… “Our goal is we want to have the vast majority of landowners signed up this spring and summer and get you folks paid. We pay 100 percent of that check as soon as we are allowed to by the IUB,” Ketzner added… “One concern of landowners is the continually rising land value, by as much as $3,000 to $4,000 per acre in just the few months time since easement negotiations have started… “Plymouth County Supervisor Mike Van Otterloo was in attendance, and explained about the commission. “If the landowner doesn’t feel comfortable with the decision the commission comes back with, you then have the right to go to district court and have a judge decide it. Now we all know how long that’s going to take. My question to that, if you have one, two or three landowners who get it to that point, would you consider at that point, rerouting the pipe in some manner?” “...Another land owner asked if the easements could be sold by the company. Ketzner said the easement is specific to CO2, and would be of no value to another company… “Questions also arose about safety procedures and shut off values. While some procedures are still being formed, Ketzner said the entire pipeline is monitored by equipment and staff in Ames, and someone flies over the pipeline every two weeks looking for any problems.”
Summit-Tribune: Hancock County drops ISG, partners with Synder & Associates to inspect pipeline
Rob Hillesland, 4/11/22
“On April 11, Hancock County supervisors abruptly changed direction on the county’s inspection oversight of construction and land restoration for the proposed Summit Carbon Solutions pipeline,” the Summit-Tribune reports. “Supervisors unanimously voted to withdraw its letter of intent to receive representation and inspection services from ISG going forward and to enter into an agreement with a more familiar civil engineering/design firm that also specializes in pipeline inspections – Snyder & Associates. The county has previously contracted with the Fort Dodge-based firm for drainage and other project services. Supervisor Chair Jerry Tlach noted that although the board previously talked with ISG and signed a letter of intent for the provision of services, it did not officially hire the firm… “Snyder & Associates is a known and trusted entity to them. “We’re probably more savvy than some on this,” supervisor Sis Greiman said. “We’ve had the argument about what happens three years down the road when we have a tile blowout down the line. They’re all well aware we’re concerned.” “...If this goes through, we need a full dog in our corner, someone who is not afraid to stand up and say, stop. So, I appreciate that,” supervisor Gary Rayhons said during meeting discussions with Wade Greiman of Garner and Kristina Paradise, representing Snyder & Associates… “In addition to providing general information to landowners impacted by the proposed route, Snyder & Associates has been asked to assist county officials with the county’s posting of pertinent pipeline public information online… “It was also noted that Hancock County has its own drainage attorney, Ann Hinders. She may introduce resolutions pertaining to additional drainage district concerns that are related to pipeline construction.”
Pipeline Fighters Hub: Webinar: Landowners United to Stop Pipelines (April 12, 2022)
4/12/22
“Register to join us and get details on the launch of a new “Landowners Rapid Response Guide & Videos” from the Property Rights & Pipeline Center, as well as a new report on the safety risks and lack of regulation of carbon pipelines, commissioned by the Pipeline Safety Trust and Bold Alliance. Attorney Brian Jorde, with Domina Law Group and Nebraska Easement Action Team, will also give an update on organizing landowners into legal co-ops to fight eminent domain in the impacted states. SPEAKERS: Jane Kleeb, Bold Alliance & Pipeline Fighters Hub; Jill Averitt, Property Rights and Pipeline Center; Paul Blackburn, Attorney, Bold Alliance; Bill Caram, Pipeline Safety Trust Brian Jorde, Attorney, Domina Law Group & Nebraska Easement Action Team.”
WASHINGTON UPDATES
E&E News: Inside a legal doctrine that could derail Biden climate regs
Pamela King, 4/11/22
“EPA’s fuel economy rule. A metric that underpins major climate regulations. The next power plant emissions rule. These are just three Biden-era regulations and policies subject to courtroom challenges driven by a long-dormant legal doctrine seen by conservatives as a winning argument against aggressive federal climate action,” E&E News reports. “All the cool kids are now citing the major questions doctrine,” said Kevin Poloncarz, a partner at the firm Covington & Burling LLP, during a recent discussion hosted by the American Council on Renewable Energy. The doctrine — which says Congress must speak clearly if it wishes to allow a federal agency to address matters of “vast economic and political significance” — has been invoked by Republican state attorneys general and conservative groups in challenges to EPA’s vehicle emissions rule and the social cost of carbon, a metric federal regulators use in cost-benefit analyses. And during Feb. 28 oral arguments in the blockbuster Supreme Court climate case West Virginia v. EPA, the justices sought to understand how the doctrine might be applied in a challenge to emissions rules for existing power plants. They took some of their cues from a friend of the court brief filed by the America First Policy Institute, a nonprofit founded by former Trump administration officials, that said the justices should take the opportunity to more clearly define the major questions doctrine.”
Politico: MAKING MOVES ON CDR
Matthew Choi, 4/11/22
“Last week’s IPCC report called for a buildout of the world’s carbon dioxide removal capacity to mitigate both legacy carbon emissions and to neutralize difficult-to-decarbonize sectors like heavy industry. Reps. Paul Tonko (D-N.Y.) and Scott Peters (D-Calif.) hope to boost U.S. direct air capture technology by creating demand for captured carbon and incentivizing the nascent technology’s development,” Politico reports. “The Federal Carbon Dioxide Removal Leadership Act introduced Friday would mandate the Energy secretary to remove pre-determined amounts of carbon while laying out best practices for the technology taking into account environmental justice and community engagement. The bill is the first legislation centered on carbon removal procurement and comes as the International Energy Agency also released its own report stressing the importance of direct air capture technology in achieving global net-zero goals.
STATE UPDATES
Capital and Main: A Hollow Boom for New Mexico: Oil production and rhetoric are up — but jobs and investments? Not so much.
By Jerry Redfern, 4/5/22
“Our weak president threatens both America’s honor and freedom itself by pandering to dictators, limp Europeans and climate hoaxers in his drive to destroy the oil and gas industry with high gas prices. He and other politicians need to get out of the way of American oil and gas companies so they can get to work and drill, drill, drill us to energy independence. At least, that’s what some politicians and lobbying groups are saying,” Capital and Main reports. “But numbers more complex than the gas station bottom line tell a decidedly different story, one corroborated by economists both in New Mexico and farther afield — and by oil and gas producers themselves. Producers have thousands of unused federal drilling permits — 1,040 in New Mexico alone. There are so many that President Joe Biden has threatened fines for not using them. Drilling rig counts haven’t followed increases in prices. Oilfield jobs in New Mexico are still down more than 20% since the COVID-19-triggered market collapse in March 2020. And perhaps most telling, in a survey of oil and gas producers conducted by the Dallas Federal Reserve Bank a month after the start of the Russian-Ukrainian war, the majority of producers said they had no plans to dramatically increase production in the next year.”
EXTRACTION
Guardian: No 10 condemns ‘guerrilla tactics’ as Just Stop Oil activists block fuel depots
Damien Gayle and Rob Davies, 4/11/22
“Downing Street has condemned the “guerrilla tactics” of protesters who have blockaded fuel distribution terminals, as reports of shortages at petrol station forecourts spread and figures showed a fall in fuel deliveries,” the Guardian reports. “Supporters of the Just Stop Oil campaign have taken action at 11 different fuel terminals in England since the start of the month, blockading and trespassing on sites to stop tankers entering, filling up or leaving to deliver fuel. Petrol retailers say that the protests are not having a serious impact on deliveries. But there have been dozens of local reports of petrol pumps running dry and Priti Patel, the home secretary, said “people across the country [were] seeing their lives brought to a standstill” by disruption caused by the campaign. The protesters have vowed to continue taking action until the government agrees on a ban on all new fossil fuel projects. On Monday afternoon, their 11th day of action, several were entering their 31st hour chained to pipework at Inter Terminal in Grays, Essex, the third largest terminal in the country. “We’re doing this because our government is refusing to act on the climate crisis and we need to have a meaningful statement that we will have no new fossil fuel projects, it’s that simple,” said an activist, who gave his name as Nathan, in a video filmed from above the loading bay at the terminal and published on Twitter. Responding to the protests on Monday, a No 10 spokeswoman said: “We recognise the strength of feeling and the right to protest is a cornerstone of our democracy, but we won’t tolerate guerrilla tactics that obstruct people going about their day-to-day business.” “...Labour called for injunctions to ban the protests.:
Bioenergy News: Waste Connections of Canada, Enbridge to develop RNG facility
4/12/22
“Waste Connections of Canada, with the support of Enbridge Gas, has unveiled plans to build a new RNG facility in Ontario, Canada,” Bioenergy News reports. “The facility will be constructed at the Waste Connections Ridge Landfill in the Municipality of Chatham-Kent. The RNG will flow through new and existing Enbridge Gas infrastructure to transport it to market. Waste Connections will invest over $50 million (€59 million) to develop the proposed Ridge RNG facility. The plant will capture landfill gas generated by decomposing waste and transform it into low-carbon RNG. From there, the RNG will be injected Enbridge Gas’s local natural gas distribution system that supplies gas to homes and businesses. The project is expected to reduce greenhouse gas (GHG) emissions by 110,000 tonnes annually. The green energy produced will be enough to heat over 18,000 Ontario homes every year – or approximately 40% of homes in Chatham-Kent.”
Toronto Star: Real estate development investment will help First Nation mitigate oil price rollercoaster
Shari Narine, 4/11/22
“Diversifying its economic portfolio will allow Fort McKay First Nation in northern Alberta to continue to provide a full range of services and programs to members even when oil prices dip,” the Toronto Star reports. “When council came into office three years ago, they looked at the portfolio of the businesses that they had and it was heavily concentrated in oil, and specifically Fort McMurray. About every seven years the oil price tends to crash and with that the income to the Nation,” Stuart Randell, director of investment for Fort McKay First Nation, told the Star. “About 60 per cent of the Nation’s annual budget comes from their businesses, and so when oil crashes, those businesses make less money and that means the Nation gets less income to pay for programs and services like education and health care,” he told the Star. Chief Mel Grandjamb and council have taken steps to rectify that, including with their latest venture for an urban village in St. Albert with the developer Landrex.”
CLIMATE FINANCE
Bloomberg: Oil Climate Disclosures Riddled With ‘Questionable Claims,’ Study Finds
Paul Takahashi, 4/12/22
“Environmental disclosures by some of the biggest U.S. oil and gas companies contain “questionable claims” about climate risks and greenhouse-gas emissions, frustrating investors under pressure to divest from fossil fuels, Columbia University researchers found,” Bloomberg reports. “Emissions data reported by oil companies are “awash with unsubstantiated claims,” according to an analysis of 15 publicly traded oil companies and a dozen major oil investors in the U.S. by the university’s Center on Global Energy Policy. Facing mounting pressure to divest from oil and gas, investors are increasingly demanding more standardized and robust climate and emissions disclosures from the industry. Some of the largest firms are already voluntarily divulging their greenhouse-gas emissions, but the lack of government regulation and unified reporting underscores the challenges investors face when comparing inconsistent data across companies. For example, Columbia researchers found that shale gas producer EQT Corp. disclosed zero emissions from flaring, but defined flaring based on the American Exploration Petroleum Council’s definition, which includes only the flaring of wellhead gas at company-operated assets. EQT’s report omits gas flared from other sources downstream from the well and flaring from emergency incidents, the report published Tuesday said.”
Bloomberg: Banks’ Net-Zero Lending Ambitions Hit Snags in Oil-Rich Canada
Kevin Orland, 4/11/22
“Canada’s banks have only just started on the path toward zeroing-out the carbon emissions of the companies they lend to, and already they’re running into conflicts between what climate activists and ESG investors want and what Canada’s oil-dependent economy demands of them,” Bloomberg reports. “Fossil-fuel lending is a tiny part of the loan businesses for many banks outside of Canada that have also pledged to reach net-zero emissions in lending by 2050. They can replace that business with other sources of profit over time. For Canada’s banks, it won’t be so easy. The country’s five largest banks were among the world’s top 10 fossil-fuel lenders last year, and four of them were among the top 20 arrangers of the sector’s bond issuances. These banks now find themselves in a similar position as many governments -- under pressure to help decarbonize the economy while also facing domestic obligations to support growth, even if that means doing business with big polluters. The banks’ ambivalence on climate was on display in their most recent ESG reports. Only one of the Big Five, Bank of Montreal, pledged to reduce the absolute emissions from the most carbon-intensive parts of its loan book by 2030. Three others -- Toronto-Dominion Bank, Bank of Nova Scotia and Canadian Imperial Bank of Commerce -- have set softer, so-called “intensity-based” targets that aim for lower emissions per unit of output but still allow for total emissions to grow. Royal Bank of Canada has yet to release its 2030 targets and says they’ll be announced this fall. On reducing their financed emissions, Canadian banks are “definitely playing catch-up, and that has been true for quite a while,” Matt Price, director of corporate engagement for the finance sector at Investors for Paris Compliance, which works to hold public companies accountable to their net-zero pledges, told Bloomberg. “One of the major reasons we’re playing catch-up is because our banks are very exposed to oil and gas.”
Facebook: Rainforest Action Network - RAN: We made a mural using wildfire ash outside of the largest annual insurance industry conference!
4/11/22
“Communities everywhere are experiencing more intense & more frequent wildfires, hurricanes, and floods because of #climatechange. Meanwhile, insurance companies who claim to have our backs during a crisis, are actually dropping home insurance coverage for these communities due to increased risk of disaster. What they fail to recognize is that *they’re* the ones helping create that risk — by providing insurance coverage to fossil fuel projects! So while insurance execs are gathering at RIMS 2022: #RISKWORLD, the biggest insurance conference of the year, we’re calling them out. It’s time for companies like @LibertyMutual, @Chubb, and @Travelers to take responsibility for their actions and STOP insuring the harmful fossil fuels destroying our planet & hurting communities”
Global Construction Review: Allianz is latest insurer to reject major African oil pipeline
Rod Sweet, 4/11/22
“Allianz, one of the world’s biggest oil and gas insurers, has become the latest to commit to not insuring the project to build a 1,443km pipeline to carry oil newly drilled from Uganda to the port of Tanga in neighbouring Tanzania,” Global Construction Review reports. “It joins Munich Re, Zurich, Axa, SCOR, Swiss Re, and Hannover Re in saying they will not do business with the $3.5bn East African Crude Oil Pipeline (Eacop) being developed by France’s TotalEnergies and China’s CNOOC Ltd. Some 15 big insurance firms with track records of insuring oil and gas projects have been targeted by the “StopEacop” alliance of more than 260 organisations, who say the project to drill for oil to the east of Lake Albert in Uganda and to transport it underground to Tanzania through the world’s longest heated pipeline will displace thousands from their land, threaten water sources for millions and endanger wildlife habitats. The extra oil burned as a result, meanwhile, will pump some 34 million tons of CO2 emissions into the atmosphere every year, the alliance says. “Allianz is not providing direct insurance to the East African Crude Oil Pipeline project, as it neither meets our climate ambition nor falls within our ESG risk profile,” the company said in a statement to StopEacop.”
TODAY IN GREENWASHING
Pilot Independent: Enbridge donates to Walker Food Shelf
4/11/22
“The Walker Area Food Shelf recently received a $5,000 donation from Enbridge Inc.,” the Pilot Independent reports. “Pictured (left to right) is Community Ambassador Pat Kastning, Food Shelf Executive Director Robin Wilson, and Tribal Liaison Diane Osceola. The Minnesota FoodShare March Fundraising Campaign, which came to an end Sunday, is the only statewide fundraiser where every dollar donated goes directly to food shelves.”
OPINION
The Globe: Letter: We should ask more questions about proposed carbon pipeline
Barb Pohlman, Lakefield, 4/11/22
“As a resident of Jackson County and being a landowner, I have serious concerns about claims made by the out of state pipeline companies that want to run their projects through our county and state,” Barb Pohlman writes for The Globe. “These companies are taking out ads in local paper and on radio stations talking about all the benefits of their new pipelines. These claims lack transparency, and we should be asking more questions before we think their billion-dollars pipelines are good for Minnesota. 1. Who pays for these projects and who profits from these pipelines? 2. How much public (taxpayers) money is involved in these projects on and annual basis and how much do these for-profit industries stand to make? 3. Why are they keeping their "investors" secret, if it is such a great opportunity and what is best for rural Minnesota, wouldn't those investors want the public to know that they are engaged?.. “Do we really thank that a pipeline project sequestering 12 million/metric tons of CO2 a year is going to make a difference when Minnesota alone generates of 161 million/metric tons and the the US is generating close to 5,000 million/metric tons on an annul basis? Seems like a drop in the bucket and not worth the $4.5 billion dollar price tag for a 2,000 mile pipeline project on the backs of taxpayers for decades to come.”
CNN: Opinion: The best solution to high gas prices: tax the oil companies
Patrick Gaspard is the president and CEO of the Center for American Progress, 4/11/22
“President Biden has led a successful campaign to cut Russia off from the global economy, with asset freezes, export controls and a ban on Russian oil imports. While this has had a devastating impact on the Russian economy, there's no denying that Americans are feeling the reverberations as well,” Patrick Gaspard writes for CNN. “...Still, the president and Congress should go further in combating price increases. One way to do that is by enacting a temporary windfall profits tax on Big Oil and the billions of dollars the industry has been raking in. Oil giants Shell, BP, ExxonMobil and Chevron reported more than $75 billion in profits last year. ExxonMobil alone made $8.9 billion in the final three months of 2021. This is in the wake of propping up Putin's fossil fuel economy for years… “These companies are in a position to profit from Russia's attack on Ukraine. Pumping oil costs them the same amount, but now they can sell it at prices driven up by the war. They are using the resulting windfall profits to increase payouts to shareholders through buybacks and dividends. When challenged during a congressional hearing last week, oil CEOs made it clear they are not going to rein themselves in… “Currently, oil companies earn more money when the prices they can charge rise. But if the tax rate of oil companies went up along with the price of oil, the windfall would be recaptured and could then be returned to American consumers via a direct payment, for instance… “It's time to make oil companies pay their fair share and alleviate some of the burden on the American consumer. The most immediate action Congress should take is to enact a temporary windfall profits tax that ensures oil companies don't siphon away profits for themselves at the expense of American families.”