Canada's "big five" banks continue to be the biggest backers of the dirty Kinder Morgan's Trans Mountain pipeline project, according to company financial documents.
This news has been widely reported in environmental/activist/political circles for a long time, but these facts are under reported in the (paid off) Lamestream Media largely controlled by globalist corporatism and politicians.
~28 banks total from Canadastan, the United States, Japan, Europe, and China have pledged ~ $7.25 billion via a combination of share purchases and loans.
Canadian banks... The largest investors & backed by government:
-- Not the great country some people think.
One of our other great Steemians here, @canadian-coconut has been chatting with me at times about issues in the country like this. She may be blogging on some of these issues in the near future!
Let's hope so, she is a great writer and Steemian in search of and exposing TRUTH to the masses.
Canada/US Political Relations always tied to Big Banks, Big Oil, and Profits over People!
--
-- TD Bank ~$731 million.
-- RBC ~$714 million.
-- Scotiabank and CIBC ~$639 million
-- Bank of Montreal ~$446 million
-- National Bank ~ $407 million.
-- Smaller Canadian financial institutions: ATB Financial at $150 million & Canadian Western Bank at $50 million.
Desjardins pledged $145 million towards the project.
They have since announced a temporary suspension of any future support for pipelines:
http://ca.reuters.com/article/businessNews/idCAKBN19U00I-OCABS
-- JULY 8, 2017
Financial institutions buy in 2 ways: Buying shares in the project/company, and/or by loaning it money by extending credit.
Foreign companies loaned over 50% of the $5.5 billion in credit for the project. (52 %/ $2.86 billion)
Canadian Pipeline Map on this Big Oil dirty Project:
--
Canadian banks have underwritten the bulk of Kinder Morgan Canada’s IPO ( initial public offering) grabbing 73.6 % of the shares available.
Cost: $1.28 billion.
The Trans Mountain pipeline project is facing renewed questioning because B.C.'s new premier, John Horgan, has promised to "use every tool available" to block its construction. The new government hasn't specified what actions it will take but has a number of options available.
In the prospectus for its 2017 IPO, Kinder Morgan acknowledged that the project could be "inhibited, delayed or stopped" by a variety of forces, including rising sea levels, Indigenous legal action, and governmental or community opposition.
National Observer quotes July 2017.
Canadian Political Background: Province of BC (British Columbia)
-- John Horgan is a Canadian politician who is the 36th and current Premier of British Columbia since July 2017, leader of the British Columbia New Democratic Party (NDP).
https://twitter.com/jjhorgan
--
He won that recent election this month & succeeded Liberal MLA Christy Clark who is a Big Oil proponent in PM Justin Trudeau's big oil friendly Liberal government who presides over Canadastan in power.
The NDP is typically a labour based party - making people wonder how long before the labour/jobs aspect of this project will be put off before they cave to Big Oil... "in the name of good jobs for Canadians"
Indigenous / environmental groups still targeted & speaking out:
In June last month, an Indigenous and environmental groups coalition initiated campaigns focusing on the banks backing Kinder Morgan Canada.
The lead signatories include Grand Chief Stewart Phillip, president of the Union of British Columbia Indian Chiefs, and Grand Chief Serge Simon of the Mohawk Council of Kanesatake in Quebec.
http://www.ubcic.bc.ca/bankswarnedtransmountain
The warning letter urges banks to avoid the reputational and financial risk of supporting this destructive project, which is incompatible with realizing the goals of the Paris Climate Agreement and respecting human rights, especially those detailed in the U.N. Declaration on the Rights of Indigenous Peoples.
“Mark my words, Kinder Morgan’s Trans Mountain pipeline expansion project will never see the light of day,” said Grand Chief Stewart Phillip, President of the Union of the BC Indian Chiefs. “We do not accept the unscrupulous liability of dirty oil coming through any pipeline system to benefit some Texans or multinational interests at the expense of our inherent responsibilities to our grandchildren’s grandchildren.”
The Dutch bank ING has stated now, that it won't finance pipelines from the Canadian oil sands going forward.
They had previously withdrawn their support/ involvement in the dubious and PR nightmare project of the Dakota Access Pipeline.
This move followed the announcement by Sweden's pension fund AP7 that it was divesting from pipeline company TransCanada along with 5 other companies as their activities are not compatible or compliant with the Paris climate agreement.
Ian Anderson - the Kinder Morgan Canada president, held a quarterly earnings report on July 19th just last week & stated to investors that the project by the company is on schedule to begin construction in September of 2017, just about 60 days from now.
Canada/US Political Relations always tied to Big Banks, Big Oil, and Profits over People!
--
I stated it again here, for emphasis on the way out today. Please consider your options in banking, clean air and water and when buying / upcycling your goods/purchases.
Images: Vancouver Sun, National Observer, Fortune, Union of the BC Indian Chiefs, Reddit, National Post, GlobalNews.ca,
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
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Some of my recent blogs:
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Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Canada's "big five" banks continue to be the biggest backers of the dirty Kinder Morgan's Trans Mountain pipeline project, according to company financial documents.
This news has been widely reported in environmental/activist/political circles for a long time, but these facts are under reported in the (paid off) Lamestream Media largely controlled by globalist corporatism and politicians.
~28 banks total from Canadastan, the United States, Japan, Europe, and China have pledged ~ $7.25 billion via a combination of share purchases and loans.
Canadian banks... The largest investors & backed by government:
-- Not the great country some people think.
One of our other great Steemians here, @canadian-coconut has been chatting with me at times about issues in the country like this. She may be blogging on some of these issues in the near future!
Let's hope so, she is a great writer and Steemian in search of and exposing TRUTH to the masses.
Canada/US Political Relations always tied to Big Banks, Big Oil, and Profits over People!
--
-- TD Bank ~$731 million.
-- RBC ~$714 million.
-- Scotiabank and CIBC ~$639 million
-- Bank of Montreal ~$446 million
-- National Bank ~ $407 million.
-- Smaller Canadian financial institutions: ATB Financial at $150 million & Canadian Western Bank at $50 million.
Desjardins pledged $145 million towards the project.
They have since announced a temporary suspension of any future support for pipelines:
http://ca.reuters.com/article/businessNews/idCAKBN19U00I-OCABS
-- JULY 8, 2017
Financial institutions buy in 2 ways: Buying shares in the project/company, and/or by loaning it money by extending credit.
Foreign companies loaned over 50% of the $5.5 billion in credit for the project. (52 %/ $2.86 billion)
Canadian Pipeline Map on this Big Oil dirty Project:
--
Canadian banks have underwritten the bulk of Kinder Morgan Canada’s IPO ( initial public offering) grabbing 73.6 % of the shares available.
Cost: $1.28 billion.
The Trans Mountain pipeline project is facing renewed questioning because B.C.'s new premier, John Horgan, has promised to "use every tool available" to block its construction. The new government hasn't specified what actions it will take but has a number of options available.
In the prospectus for its 2017 IPO, Kinder Morgan acknowledged that the project could be "inhibited, delayed or stopped" by a variety of forces, including rising sea levels, Indigenous legal action, and governmental or community opposition.
National Observer quotes July 2017.
Canadian Political Background: Province of BC (British Columbia)
-- John Horgan is a Canadian politician who is the 36th and current Premier of British Columbia since July 2017, leader of the British Columbia New Democratic Party (NDP).
https://twitter.com/jjhorgan
--
He won that recent election this month & succeeded Liberal MLA Christy Clark who is a Big Oil proponent in PM Justin Trudeau's big oil friendly Liberal government who presides over Canadastan in power.
The NDP is typically a labour based party - making people wonder how long before the labour/jobs aspect of this project will be put off before they cave to Big Oil... "in the name of good jobs for Canadians"
Indigenous / environmental groups still targeted & speaking out:
In June last month, an Indigenous and environmental groups coalition initiated campaigns focusing on the banks backing Kinder Morgan Canada.
The lead signatories include Grand Chief Stewart Phillip, president of the Union of British Columbia Indian Chiefs, and Grand Chief Serge Simon of the Mohawk Council of Kanesatake in Quebec.
http://www.ubcic.bc.ca/bankswarnedtransmountain
The warning letter urges banks to avoid the reputational and financial risk of supporting this destructive project, which is incompatible with realizing the goals of the Paris Climate Agreement and respecting human rights, especially those detailed in the U.N. Declaration on the Rights of Indigenous Peoples.
“Mark my words, Kinder Morgan’s Trans Mountain pipeline expansion project will never see the light of day,” said Grand Chief Stewart Phillip, President of the Union of the BC Indian Chiefs. “We do not accept the unscrupulous liability of dirty oil coming through any pipeline system to benefit some Texans or multinational interests at the expense of our inherent responsibilities to our grandchildren’s grandchildren.”
The Dutch bank ING has stated now, that it won't finance pipelines from the Canadian oil sands going forward.
They had previously withdrawn their support/ involvement in the dubious and PR nightmare project of the Dakota Access Pipeline.
This move followed the announcement by Sweden's pension fund AP7 that it was divesting from pipeline company TransCanada along with 5 other companies as their activities are not compatible or compliant with the Paris climate agreement.
Ian Anderson - the Kinder Morgan Canada president, held a quarterly earnings report on July 19th just last week & stated to investors that the project by the company is on schedule to begin construction in September of 2017, just about 60 days from now.
Canada/US Political Relations always tied to Big Banks, Big Oil, and Profits over People!
--
I stated it again here, for emphasis on the way out today. Please consider your options in banking, clean air and water and when buying / upcycling your goods/purchases.
Images: Vancouver Sun, National Observer, Fortune, Union of the BC Indian Chiefs, Reddit, National Post, GlobalNews.ca,
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
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Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
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Blocked again by #Facebook on sharing valuable truth based content!
Bravo for taking a stand to protect our environment. It sucks that Facebook blocked you, likely because someone against your cause reported you. Keep on standing strong and speaking your truth!
It would not even let me post, let alone get to someone else reporting me, they have done that for years as we know to many of us posting truth, now it is just more proof, as in my other posts here -- captured on the blockchain forever proving what trash FB etc actually is.
Upvoted with thanks today Henry. Check out my #COMER .org comments here about the banking system being sued of which I am a part of also.
banks are the biggest scammers
You are 100% correct. I am also part of the #COMER .org group of Canadians suing the Federal Gov't here to RETURN THE MONETARY SYSTEM AND POLICY TO THE PEOPLE!
Followed.
Beware of scammers! thanks great
Thanks.
Thanks for sharing this great article.
Good post @barrydutton
Thanks for commenting.
News :) Thank you for this
Nice post
I upvoted you, please lock up my post too and dont forget to upvote me @iqbalmaulana
Don't write spammy comments in posts with nothing to offer on the topic.
Awesome post. Thanks for your efforts. Resteemed and upvoted.
TY very much for the support today Don.
Deleted
Don't write spammy comments in posts with nothing to offer on the topic.
Nice detailed post but not one I agree with. Some pipelines that are proposed will take dangerous train transport and truck transport off the road thus reducing the overall need for oil as well. Everybody saw the effects of a train derailment and resulting explosion.
Proper pipelines would also ease our dependence on foreign oil. It's a shame that we import oil into Canada to meet our needs because we don't have proper pipeline access. Especially the oil we are forced to buy from countries that are not upholders of equal rights. You know who I am talking about.
We all love the things that oil provides...bet you are writing on a device that contains petroleum products as well as other "dirty" mined metals. Can't live without the cell phone or computer but let's not consider that we are the ones creating the incredible demand for oil. Ask the Hollywood actors who become environmental experts while jetting into Northern Alberta on their private planes to save us. Give me a break.
Stopping a pipeline might not be the answer.
Sure makes a post that people think is fun to jump on.
Again, good job on laying out your distaste (kudos for that as it was well written) but I just disagree.
Oh...and I upvoted because of the effort. I love debating so I thought this was fun, hope you do too.
Do you have a job or paycheck or someone close to you in the oil industry?
Nope...none of the above...just a realist.
I guess the only considerations for the banks is the profit and the bottom line.
I despise banks. Their policy in life is a ruin to the 99%.
To some extend, they are a necessary evil.
Do check out my poems and positive posts in my blog.
Very detailed article. Quite Intresting.
Uovoted and Resteemed
Thanks for the support on this.
Yes, they are amoral fucks at best! But they're cunningly smart and have allowed just enough people to win in their casino to keep the game rolling.....
They've also made it so only the capitalists can escape capitalism.......
That is very well said LOL, I hope you write a lot on here!!!