• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 3 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 1 hour Iran downs US drone. No military response . . Just Completely Destroy their Economy. Can Senator Kerry be tried for aiding enemy ?
  • 5 hours The Inconvenient Truth Of Electric Cars
  • 5 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 1 hour Oil Demand Needs to Halve: Equinor
  • 15 hours Win Against Tyranny: Turkey's Opposition Strikes Blow To Erdogan With Istanbul Mayoral Win
  • 14 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 6 hours NATO Article 5: Attack on one member is attack on all. Members all must come to defense . . . NOT facilitate financial transactions to circumvent and foil US Sanctions. Somebody please tell Angela.
  • 3 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 2 hours The Plastics Problem
  • 2 hours Hydrogen FTW... Some Day
  • 5 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 51 mins Section 232 Uranium
  • 12 hours California and Oil
  • 5 mins Solar Panels at 26 cents per watt
Iran: A Geopolitical Time Bomb

Iran: A Geopolitical Time Bomb

Oil markets have turned particularly…

Is Big Oil’s Plastic Bet Going Sour?

Is Big Oil’s Plastic Bet Going Sour?

Oil majors are investing a…

Dakota Access To Start Carrying Crude Oil Across State Lines In May

Pipeline

Energy Transfer Partners’ $3.8-billion Dakota Access pipeline will begin carrying crude oil from the Bakken play to Illinois on May 14, the company said in a regulatory filing. The pipeline was loaded at the end of March, after months of protests from indigenous communities and environmentalists.

Initially, the protests led the previous administration to suspend the project, but when Donald Trump became President, the launch of the Dakota Access was the first executive order he signed.

Now protests are continuing, with acts of vandalism also a possibility, after last month reports emerged that the FBI is investigating two such acts at a section of the pipeline in Sioux County, Iowa. Energy Transfer Partners said that attacks had been carried out in South Dakota as well, which was later confirmed by local authorities.

The pipeline project was subject to environmental reviews that concluded it is safe for the environment and will not encroach on sacred lands, but the Standing Rock Sioux tribe and its supporters are not giving up the battle, despite two court rulings in favor of the pipeline.

Meanwhile, activists are closing their accounts in banks that have taken part in funding Energy Transfer Partners’ project. Perhaps the most striking example of this was the city of Seattle’s decision—the result of vigorous lobbying from anti-DAPL campaigners—to sever its links with one of the pipeline’s creditors, Wells Fargo. Now, there are campaigns in several other cities to do the same.

Related: IEA: Oil Markets Are Balancing At A Rapid Pace

Three of the 17 banks that provided the funding for the projects have now pulled out, among them Dutch ING, Norwegian DNB, and just recently French BNP Paribas. The French bank said it had sold its $120-million share in the funding scheme after “an extended and comprehensive review of the project including consultation with all stakeholders.”

By Irina Slav for Oilprice.com for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News