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Kinder Morgan is short on cash, and desperately needs investors PDF Print E-mail
Justice News
Posted by Joan Russow
Thursday, 23 February 2017 19:01

News just broke that Kinder Morgan is short on cash, and desperately needs investors to back their Trans Mountain project -- a dirty tarsands pipeline that would threaten BC’s coast with oil spills and facilitate a massive increase in climate pollution from the tarsands. [1-3]

They've hired TD Bank to broker talks with pension funds and banks, searching for backers to bail out their struggling pipeline plan. [4]

TD invests millions in branding themselves as a friendly and socially responsible bank, and they don't want their brand associated with environmental destruction.

A massive petition could show TD that supporting the Kinder Morganpipeline could damage their brand and cost them customers. IThe company won't do anything that they think will hurt their bottom line, so if we can make this campaign huge, it could work.

TD is meeting investors on behalf of Kinder Morgan right now, so we need to act fast. Will you sign the petition asking TD to immediately stop helping Kinder Morgan find investors to bail out their tarsands pipeline project?

Sign the petition now

The pipeline would be a disaster: oil spills in salmon streams, massive tankers on BC's fragile coast, and a huge surge of climate pollition. KinderMorgan admits the project would create only 50 permanent jobs, and economists say the pipeline isn’t even needed. [5-6]

But Kinder Morgan's weak financial position could be their achilles heel. They're relying on TD to help find backers for their risky pipeline and tanker scheme and if we convince TD to pull out, it would leave Kinder Morgan scrambling -- creating costly delays they simply can't afford 

The pipeline has already been approved by the federal and provincial government, and this is one of the few avenues we have left to stop the project. So what do you say, joanrussow. Will you sign the petition calling on TD to pull out of their contracts with Kinder Morgan?

We've seen banks give into the pressure of campaigns to stop pipelines before. Just last November, indigenous activists in Norway convinced Norway’s largest bank to divest from the Dakota Access Pipeline. It worked in Norway, and it could work here -- but only if thousands of us sign the petition now. [7]

http://www.leadnow.ca/tell-td-stop-supporting-kinder-morgan/

We’re in this together,

Jolan and Brittany, on behalf of the entire Leadnow.ca team

[1] Exclusive: Kinder Morgan starts talks with investors for $5.2 billion Canada pipeline project: Sources (Reuters) http://www.reuters.com/article/us-kinder-morgan-de-canada-financing-exc-idUSKBN15W20W

[2] The Kinder Morgan Pipeline (Greenpeace). http://www.greenpeace.org/canada/en/campaigns/Energy/tarsands/Kinder-Morgan-pipeline/

[3] Kinder Morgan Pipeline: tarsands oil to and from our coast (Raincoast). https://www.raincoast.org/trans-mountain-pipeline/

[4] See 1 above

[5] Assessing the Risks (CRED). http://credbc.ca/assessing-the-risks/

[6] See 2 and 3 above

[7] Norway's top bank drops assets in Dakota Access Pipeline (The Local). http://www.thelocal.no/20161118/norways-top-bank-drops-assets-in-dakota-access-pipeline

 

 

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