Posted 4 years ago on Jan. 23, 2014, 8:15 p.m. EST by BradB
from Washington, DC
This content is user submitted and not an official statement
Building Keystone XL Pipeline Could Mean Roughly $100 Billion in Profits for the Koch Brothers, New Report Reveals. The owners of Koch Industries, Charles and David Koch, will benefit should President Obama allow the Keystone XL Pipeline to be built. In recent years it has been reported that the Kochs hold up to 2 million acres in Alberta, could earn roughly $100 billion in profits from the project, and have spent more than $50 million on congress and think tanks that heavily push for the pipeline.
The Kochs have long been one of the largest players in the tar sands region of Alberta, Canada. The report connects the Kochs’ 50 year history and large footprint in the Canadian tar sands to the current debate about the pipeline. Since the Kochs are big players, it stands to reason they will be big winners when the pipeline gets built. IFG crunched the numbers and puts forth a compelling answer to why the Kochs have used their influence networks to push for fast-tracking of pipeline – $100 billion in potential profits.
Other Findings in the report include:
The Kochs could earn 1 million times more than the average worker of the pipeline. Evidence suggests The Kochs alone be responsible for over 19 billion metric tons of carbon emissions in their tar sands holdings. Think tanks funded by the Kochs have released nearly 1000 pro-KXL reports or statements. Kochs have already made billions from insider trading and stand to do that again with tar sands. Koch Industries has a history of violence against people and the environment. The Koch Brothers seek to alter the public debate and control the policy debates in Washington.