Tag Archives: Keystone XL

America’s largest college mutual fund VA529 owns Spectra Energy, a stranded investment

Parents and grandparents buy 529 college savings plans as safe investments, so VA529 chose poorly in Spectra Energy, the very risky company behind the Sabal Trail fracked methane pipeline now plowing through the Floridan Aquifer drinking water of south Alabama, Georgia, and all of Florida and under the Withlacoochee and Suwannee Rivers against growing opposition. Maybe you’d like to mention that to Mary G. Morris, the Chief Executive Officer of Virginia529 College Savings Plan, the biggest mutual fund investor in both Spectra Energy and in Enbridge, which is buying Spectra. There’s a handy VA529 contact form or you can call or write:

Toll-Free: 1-888-567-0540
9001 Arboretum Parkway
North Chesterfield, VA 23236

Spectra is so risky it just sold itself so Enbridge would take on about $22 billion of Spectra debt. Debt especially racked up since Continue reading

Pipelines are bad economics: invest in renewable energy instead –Harvard

Let’s stop wasting money on the slide-rule technology of Keystone XL or Sabal Trail: they’re both bad investments, either short-term or long-term.

Andrew Winston wrote for Harvard Business Review 30 January 2015, Why the Keystone Pipeline Is the Wrong U.S. Energy Debate,

In the short run, with oil at $50 per barrel, Keystone will connect refineries to oil that may be unprofitable to extract. In the long run, as the world turns away from fossil fuels aggressively, the pipeline will be moot — a relic of the past.

Either way it’s a poor investment.

What, then? Continue reading

MLK and pipeline opposition

The fossil fuel opposition is the child and grandchild of Mohandas K. Gandhi and Martin Luther King Jr. With their nonviolence, truth, and action as a model, we shall overcome.

Bill McKibben, The Guardian, 25 August 2011, Martin Luther King’s legacy and the power of nonviolent civil disobedience: In opposing the Keystone XL oil pipeline, demonstrators are getting a sense of the civil rights leader’s courage,

Preacher, speaker, writer under fire, but also tactician. He really understood the power of nonviolence, a power we’ve experienced in the last few days. When the police cracked down on us, the publicity it produced cemented two of the main purposes of our protest: First, it made Keystone XL “ the new, 1,700-mile-long pipeline we’re trying to block that will vastly increase the flow of “dirty” tar sands oil from Alberta, Canada, to the Gulf of Mexico “ into a national issue. A few months ago, it was mainly people along the route of the prospective pipeline who were organising against it. (And with good reason: Continue reading

Keystone XL pipeline rejected in U.S. Senate

We are all Indians to the fossil fuel cowboys, but this time the Indians won. The U.S. Senate yesterday rejected the Keystone XL pipeline. It won’t end there, but it should, because solar power is cheaper, faster, cleaner, and actually does bring jobs to the U.S.

Picture from US Uncut

Of course, TransCanada has a backup plan for getting its dirty Alberta tar sands oil to overseas market: a pipeline entirely through Canada to New Brunswick. Which means the past several years of TransCanada insistence that Keystone XL was necessary was just so much bs. Which indicates how much we should believe other Keystone XL claims, such as those about jobs the pipeline would supposedly create.

Source: Reuters

Angelo Young, International Business Times, 8 October 2014, No Keystone XL Pipeline? No Problem, Says Canadian Firm Planning To Send Crude East Instead Of South, Continue reading

35 jobs for 51 coal plants of CO2: Keystone XL Pipeline

What pollutes almost as much as one and a half coal plants per permanent job? The proposed Keystone XL Pipeline. Does that sound like a good deal to you?

Talia Buford and Darren Goode wrote for Politico 1 March 2013, State Dept. Keystone report plays down climate fears, Continue reading