A new study released today concludes that Koch Industries and its subsidiaries stand to make as much as $100 billion in profits if the controversial Keystone XL pipeline is given the go-ahead by U.S. President Obama.
The report, titled Billionaires’ Carbon Bomb, and 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 oil that will be pumped to the United States via the Keystone XL pipeline.
[quote]The Kochs have repeatedly claimed that they have no interest in the Keystone XL Pipeline, this report shows that is false.” Said Nathalie Lowenthal-Savy , a researcher with IFG. “We 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.” Nathalie continued, “We 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.[/quote]
Download a PDF copy of the study here: Billionaires’ Carbon Bomb: The Koch Brothers and the Keystone XL Pipeline.
2 thoughts on “Koch Brothers could make $100 Billion from Keystone XL pipeline”
The story has no basis in fact. Koch operations neither own nor lease 2 million acres of oil sands land. That much would be 7% of the total resource. No one has that much. The only Koch operation in the oil sands I can find is a 10 thousand bpd pilot that could be operational in 2015. It would appear that George Bush has finally been replaced as the bogeyman for the left. Now anything bad, even if imagined, is blamed on the Koch family.
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