Policy: Environment & Energy

Who gets rich off of blocking the Keystone XL pipeline?

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Beltway Confidential,Opinion,Timothy P. Carney,Senate,Keystone XL,Energy and Environment,Tim Kaine

Any time government intervenes in the economy, somebody's making money. Environmentalists' efforts to block Keystone will be good news for those who own the alternative means of shipping oil.

Lachlan Markay at the Free Beacon poked around and found this interesting tidbit:

Democrats who oppose the Keystone XL pipeline have thousands of dollars invested in direct competitors to the company looking to build the pipeline, public records show. ...

According to his personal financial disclosure forms, [Sen. Tim Kaine, D-Va.] has between $15,000 and $50,000 invested in Kinder Morgan Energy Partners, according to his most recent financial disclosure. Kinder Morgan is looking to build a pipeline that would directly compete with Keystone. ...

Another anti-Keystone Democrat, California Rep. Alan Lowenthal, has between $15,000 and $50,000 invested in Enbridge Energy Management, $1,000 to $15,000 in Kinder Morgan Energy Partners, and $15,000 to $50,000 in Kinder Morgan Management, which is a limited partner in and handles everyday management for the company’s Energy Partners subsidiary.

Lowenthal has been less outspoken then Kaine on Keystone, but he voted against legislation last year that would have approved the pipeline without sign-off from the administration, which has repeatedly put off a decision on the project.

He was also one of 22 Democrats to sign a December letter to U.S. Trade Representative Michael Froman insisting that the Keystone Pipeline would be detrimental to the environment.

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