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As reported by Democracy Now! Hugh MacMillan of Food & Water Watch has been conducting an investigation into the financial institutions who are directly bankrolling the Dakota Pipeline. In an interview with Amy Goodman, MacMillan explains exactly how banks are involved in the venture, and which banks in particular have a stake in the DAPL.
According to MacMillan:
“Dakota Access, LLC, is a joint venture of Phillips 66 and a joint venture of two members of the Energy Transfer family—Energy Transfer Partners and Sunoco Logistics. Enbridge and Marathon Oil have bought into this, this joint venture. Together, they now have about a 37 percent stake in the pipeline, in the Dakota Access pipeline.”
MacMillan then goes on to explain that the banks involved are, in effect, investing into the venture in the hopes of making profits from the drilling and fracking operations that will send oil through the pipeline, but let us not forget: it’s the Banking-Cartel that owns the Oil Industry, in the first place.
Here is a list of banks involved in the project:
– Citibank, who according to MacMillan, has “been running the books on the project, and that’s the bank that beat the bushes and got other banks to join in.”
– Wells Fargo
– Bank of America
– Goldman Sachs
– JPMorgan Chase
– BNP Paribas
– Sun Trust
– Royal Bank of Scotland
– Bank of Tokyo-Mitsubishi
– Mizuho Bank
– TD Securities
– ABN AMRO Capital
– DNB First Bank (based in Philly)
– SMCB Nikko Securities
– Société Générale
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