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Study Reveals Billionaire Koch Brothers Could Make $100 Billion if Keystone XL Pipeline Approved


October 23, 2013
Stefanie Spear / EcoWatch & Kevin Grandia / DeSmogBlog & The International Forum on Globalization

The progressive think tank International Forum on Globalization released a report documenting how Koch Industries and its subsidiaries stand to make as much as $100 billion in profits if the Keystone XL pipeline is built. "The Kochs have repeatedly claimed that they have no interest in the Keystone XL pipeline. This report shows that is false," claims IFG. The report receals that the Koch brothers have sent $50 million to the Tea Party, think tanks and other parties that are pushing for the pipeline.

http://ecowatch.com/2013/10/20/koch-brothers-100-billion-profit-keystone-xl-pipeline-built/

New Report Reveals Koch Brothers Could Make
$100 Billion Profit if Keystone XL Pipeline is Built

Stefanie Spear / EcoWatch

(October 20, 2013) -- The progressive think tank International Forum on Globalization (IFG) released a report today investigating how Koch Industries and its subsidiaries stand to make as much as $100 billion in profits if the Keystone XL pipeline is built. The report, Billionaires' Carbon Bomb: The Koch Keystone XL Pipeline, finds that the Kochs hold up to 2 million acres in Alberta and have spent upwards of $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, according to a IFG press release. The report connects the Kochs' 50 year history and large footprint in the Canadian tar sands to the current debate about the Keystone XL pipeline.

"The Kochs have repeatedly claimed that they have no interest in the Keystone XL pipeline, this report shows that is false," said Victor Menotti, executive director of IFG.

"We noticed Koch Funded Tea Party members and think tanks pushing for the pipeline. We dug deeper and found $100 billion in profits, $50 million sent to organizations supporting the pipeline, and perhaps 2 million acres of land. That sounds like an interest."

Other findings in the report include:

* The Kochs will earn 1 million times more than the average worker of the pipeline.

* The Kochs alone own more than 19 billion metric tons of carbon emissions in their tar sands holdings.

* Think tanks funded by the Kochs have released nearly 1,000 pro-Keystone XL 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.

"The past two weeks of the government shutdown brought to light the irresponsible influence of Koch-funded groups," said Jane Kleeb, director of Bold Nebraska.

"Rewarding the Koch Brothers with Keystone XL, who at every turn fund campaigns to mislead Americans on everything from climate to gas prices, is like the President advocating for Sen. Cruz to be the Majority Leader. It makes no sense. Farmers and ranchers in Nebraska are depending on President Obama to see our national interest is not served with a pipeline that lines the pockets of climate deniers and foreign oil."

ACTION: You can download a PDF copy of the study here: Billionaires' Carbon Bomb: The Koch Brothers and the Keystone XL Pipeline



Study: Koch Brothers Could Make $100 Billion if Keystone XL Pipeline Approved
Kevin Grandia / DeSmogBlog

(October 21, 2013) -- 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 granted a presidential permit from U.S. President Barack Obama.

The report, titled Billionaires' Carbon Bomb, 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 bitumen that would be pumped to the United States via the Keystone XL pipeline.

IFG also finds that more than 1,000 reports and statements in support of the Keystone XL pipeline project have been made by policy groups and think tanks that receive funding from the Koch brothers and their philanthropic foundations. "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."

This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License


Building Keystone XL Pipeline Will Mean $100 Billion
In Profits for the Koch Brothers, New Report Reveals

The International Forum on Globalization

San Francisco, CA (October 22, 2013) -- On October 20th, progressive think tank International Forum on Globalization (IFG) released a report investigating how owners of Koch Industries, Charles and David Koch, will benefit should President Obama allow the Keystone XL Pipeline to be built.

The report, entitled Billionaires' Carbon Bomb: The Koch Keystone XL Pipeline, reveals Koch Industries substantial interest in the controversial pipeline. Staggering numbers punctuate the report; the Kochs hold up to 2 million acres in Alberta, could earn $100 billion in profits from the project, and have spent upwards of $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, they will be big winners when the pipeline gets built. IFG crunched the numbers and found a frightening 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 will earn 1 million times more than the average worker of the pipeline.
* The Kochs alone own 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.

"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.

"The past two weeks of the government shutdown brought to light the irresponsible influence of Koch-funded groups," said Bold Nebraska Director, Jane Kleeb.

"Rewarding the Koch Brothers with Keystone XL, who at every turn fund campaigns to mislead Americans on everything from climate to gas prices, is like the President advocating for Sen. Cruz to be the Majority Leader. It makes no sense. Farmers and ranchers in Nebraska are depending on Pres. Obama to see our national interest is not served with a pipeline that lines the pockets of climate deniers and foreign oil."

It is still anybody's guess if President Obama will approve the northern leg of KXL. He has hinted that he has issues with the project, though he has not denied the permit. It is clear that IFG -- and a growing number of other organizations -- think the pipeline is in the interest of oil billionaires, not the American public.

Posted in accordance with Title 17, Section 107, US Code, for noncommercial, educational purposes.

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