Monday, December 5, 2016

Philly's Sunoco has deep-dollar stake in Dakota pipeline

Standing Rock encampment in North Dakota

Andrew Maykuth reports for the Philadelphia Inquirer:

The Obama administration’s decision to block completion of the contentious Dakota Access Pipeline has direct impact on Sunoco Logistics Partners LP, the Newtown Square company that would operate the $3.8 billion crude-oil pipeline. 

Sunoco Logistics and its parent company, Energy Transfer Partners LP, which are on the hook for more than $2 billion in the project, denounced the decision by the U.S. Army Corps of Engineers to block the pipeline from crossing the Missouri River as a “purely political action.

“This is nothing new from this administration, since over the last four months the administration has demonstrated by its action and inaction that it intended to delay a decision in this matter until President Obama is out of office,” the companies said in a statement released late Sunday.

President-elect Donald Trump’s spokesman on Monday said the new administration will review the permit denial after it takes office. The Corps declined to grant ETP an easement to build under Lake Oahe, a dammed part of the Missouri river in North Dakota. The agency said it would begin a lengthy environmental review to determine whether to reroute the pipeline.

Trump’s spokesman Jason Miller on Monday told reporters he pipeline “is something we support construction of, and we will review the situation when we are in the White House to make the appropriate determination at that time.”
Read the full story here 

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