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18 февраля, 03:03

Investors Urge Banks To Support Rerouting Dakota Access Pipeline

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); A group of more than 120 investors on Friday told 17 banks financing construction of the Dakota Access Pipeline that the project should be rerouted away from a Native American tribe’s reservation.  “We are concerned that if DAPL’s projected route moves forward, the result will almost certainly be an escalation of conflict and unrest as well as possible contamination of the water supply,” said the statement to banks, including Citibank and Wells Fargo, which have lent money to the companies behind the 1,172-mile oil pipeline. The group of investors includes California’s giant public employee pension fund, CalPERS; New York City teacher and firefighter pensions; dozens of religious organizations; and asset management firms. They have a combined $653 billion in managed assets, according to the statement.  The investors expressed support for the Standing Rock Sioux, who say that the oil line threatens their drinking water and violates territorial rights in North Dakota established by an 1851 treaty with the federal government. “We call on the banks to address or support the Tribe’s request for a reroute and utilize their influence as a project lender to reach a peaceful solution that is acceptable to all parties, including the Tribe,” the letter said.  The group worries that its investments in the banks could be hurt by a public backlash against the project through legal action or boycotts. “As investors we are very concerned by the reputational and potential financial risks due to these banks being associated with DAPL,” the statement said.  Representatives of the banks were scheduled to meet with tribal leaders Friday, The Financial Times reported. There’s been mounting pressure on financial institutions connected to Dakota Access. The city of Seattle recently voted to end its financial relationship with Wells Fargo because the bank has provided loans and financial services to Energy Transfer Partners, the lead developer. Norway’s largest bank sold its stake in the pipeline in November, citing concerns about its effect on the Standing Rock tribe.  The investors’ group stopped short of calling on the banks to divest from the Dakota Access Pipeline, though there are calls to do so elsewhere. One online group claims supporters have pledged to withdraw more than $66 million from banks doing business with the pipeline’s owners.  “We believe that engaging with the companies we own is the first course of action to effect change and a preferred option over divestment where we lose our voice as an investor,” said Anne Simpson, an investment director for CalPERS, in a statement.  The pipeline from North Dakota to Illinois is almost complete. President Donald Trump’s administration allowed construction to resume this month on the disputed section beneath a Missouri River reservoir near the Standing Rock Sioux’s reservation.  Citibank and Wells Fargo officials did not respond to The Huffington Post’s requests for comment on the letter. Citibank, however, said in a Jan. 30 statement that it is “very concerned about the situation on the ground in North Dakota” but that it cannot break its contract with Energy Transfer Partners and Sunoco Logistics, a pipeline project partner. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

10 февраля, 18:09

Buckeye (BPL) Misses Q4 Earnings, Beats Revenue Estimates

Buckeye Partners, L.P. (BPL) reported fourth-quarter 2016 earnings of 78 cents per unit, lagging the Zacks Consensus Estimate of $1.05 by 34.6%.

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08 февраля, 16:47

Plains All American (PAA) Lags Q4 Earnings, Issues Outlook

Plains All American Pipeline, L.P. (PAA) reported fourth-quarter 2016 adjusted earnings of 14 cents per unit, missing the Zacks Consensus Estimate of 49 cents.

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31 января, 17:32

Profit From the Keystone XL and Dakota Access Pipelines

For better or for worse, President Trump seems determined to get the Keystone XL and Dakota Access pipeline projects moving again. You can profit as a result.

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26 января, 17:30

The Zacks Analyst Blog Highlights: TransCanada, Energy Transfer Partners, Sunoco Logistics Partners, Plains All American Pipeline and TC PipeLines

The Zacks Analyst Blog Highlights: TransCanada, Energy Transfer Partners, Sunoco Logistics Partners, Plains All American Pipeline and TC PipeLines

25 января, 22:10

Trump on Track to Revitalize Keystone & Dakota, MLPs Gain

The 45th U.S. President has already started to take measures to revive the fate of the two controversial oil pipeline developments.

23 декабря 2016, 15:34

Sunoco (SUN) Shows Strength: Stock Adds 12.7% in Session

Sunoco LP (SUN) moved big last session, as its shares jumped almost 13% on the day.

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22 декабря 2016, 16:37

Sunoco upgraded to outperform from market perform at FBR & Co.

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

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21 декабря 2016, 19:15

Sunoco upgraded to outperform from neutral at Credit Suisse

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

16 декабря 2016, 01:17

Rick Perry as Energy Secretary: How Will Oil Stocks React?

The appointment of Rick Perry, President-elect Donald Trump's choice for Energy Secretary, could be a major trigger event for oil stocks.

14 декабря 2016, 00:03

Rick Perry, with multiple ties to CEO of controversial pipeline project, tapped for Energy Dept.

Former Texas Gov. Rick Perry, at Trump Tower this week, is on the board of Energy Transfer Partners, and its CEO was the biggest funder of his 2016 presidential bid. (Photo: Albin Lohr-Jones / Pool via CNP /MediaPunch/IPX) BY: ASHLEY BALCERZAK The Dakota Access Pipeline protesters just got a new reason to keep their Standing Rock encampment intact: former Texas governor and two-time presidential candidate Rick Perry, tapped today by President-elect Donald Trump to head his Energy Department. Never mind that Perry -- who now becomes the second of Trump's competitors named to his Cabinet (Ben Carson is slotted for Housing and Urban Development) -- previously wanted to scrap the agency altogether. Now the department will be helmed by a man whose biggest fan -- as measured by donations supporting Perry's presidential bids -- is Kelcy Warren, CEO of Energy Transfer Partners, the company behind the controversial pipeline. Warren gave super PACs supporting Perry's presidential bid $6 million last year, though he got nearly $4 million of it back after Perry dropped out. And beyond that, Perry is on the board of directors of Energy Transfer Partners -- a position he would have to relinquish if he's to become secretary. Earlier this month, the Army Corps of Engineers, in response to the protests in North Dakota, said it would explore alternate routes for the pipeline segment at issue, but the demonstrators on site fear the Trump administration will reverse that decision. Perry raised just $1.4 million for his 2016 campaign, a fraction of what he brought in four years earlier. But his super PAC, Opportunity and Freedom PAC, brought in almost 10 times that much. Besides Warren, the most generous donors included rancher Julianna Holt and her husband, Peter Holt, CEO of Holt Companies, the largest U.S. Caterpillar dealership ($500,000). The Holts are more than just donors, though: According to a financial disclosure form Perry filed last year, the candidate had a $250,000 consulting gig with Holt. Warren and Darwin Deason of Deason Capital Services (whose son, Doug, is a big player in the Koch network) each donated $5 million to a second super PAC, creatively named Opportunity and Freedom I, but were reimbursed most of the funds in late August. The group didn't report any independent expenditures, refunding $8.8 million and transferring the additional $1 million to the first Opportunity and Freedom PAC. Top Household Donors to Rick Perry, 1998-2016 Data from the National Institute on Money in State Politics, OpenSecrets Mostly thanks to these large donations, the oil & gas ($1.6 million) industry led the way in giving to Perry's campaign committee and super PACs combined. And that's a pattern that's been in place pretty much throughout Perry's political career; renewable energy advocates aren't likely to find much interest in their projects at the top of DOE's organizational chart for a while, assuming Perry is confirmed by the Senate. The miscellaneous finance ($480,000) and livestock ($376,000) industries were a distant second and third. Perry played a far better fundraising game in 2012, collecting $19.7 million for his campaign, almost all from donations of $200 or more. Oil & gas was No. 1 for him in that cycle ($1 million) after retired folks ($1.1 million); real estate professionals pulled in third ($926 million). His campaign's top donors came from Ryan LLC, Murray Energy and the United States Automobile Association. Data from the National Institute on Money in State Politics, OpenSecrets His biggest outside backer, Make Us Great Again (sound familiar?), spent almost $4 million trying to get Perry to the White House, with large donations coming from Dallas-based Contran Corp., formerly headed by now-deceased GOP funder Harold Simmons ($1 million); Kelcy Warren and Darwin Deason again ($250,000 each); and trial lawyer Tony Buzbee (also $250,000), who became Perry's general counsel two years later when a grand jury indicted him on two felony counts, later dismissed. (The Travis County grand jury charged him with "abuse of official capacity" for threatening to veto $7.5 million in funds for a public corruption department, and "coercion of a public servant" for pushing for the resignation of a district attorney after she was convicted of drunk driving.) Data from the National Institute on Money in State Politics and OpenSecrets. Perry's first presidential run came while he was still governor of Texas, a slot he occupied from 2000 to 2015, making him the longest-serving chief executive of that state. Voters elected Perry to three full terms: He raised $24.7 million in 2002, $30.4 million in 2006 and $49 million in 2010, according to data from the National Institute on Money In State Politics. In his last state election in 2010, he received $5.9 million from -- guess who? -- oil & gas interests, $3.8 million from lawyers and lobbyists and $3 million from conservative policy organizations. (These industries top the list of his previous elections as well, including his successful 1998 run for lieutenant governor, where he raised $12.3 million. He became governor in late 2000 when George W. Bush was elected president.) Perry's personal holdings also reflect his comfort level with the fossil fuel industry. The financial disclosure form he filed in July 2015 indicated that his wife owned up to $15,000 in Energy Transfer stock, along with the same amount of another pipeline company and of Sunoco Logistics, the future operator of the pipeline being protested at Standing Rock. (According to Reuters, Sunoco Logistics outdoes all its competitors in spilled crude.) Perry himself has stock in QR Energy, Gray Rock Energy and other companies in the oil and gas industry. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

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10 декабря 2016, 00:47

Lawless Bureaucratic Obstruction Is No Substitute For The Rule of Law In The Dakota Access Decision

On Sunday, December 4, 2016, the Obama administration carried out its latest step to derail the Dakota Access Pipeline, a joint venture between Energy Transfer Partners and Sunoco Logistics Partners, when the Department of the Army announced that “it will not approve an easement that would allow the proposed Dakota [...]

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09 декабря 2016, 17:53

Ferrellgas Partners (FGP) Q1 Loss Narrower than Expected

Ferrellgas Partners LP (FGP) reported first-quarter fiscal 2017 adjusted loss of 44 cents per unit, narrower than the Zacks Consensus Estimate of a loss of 51 cents.

09 декабря 2016, 05:09

The Army Halted The Dakota Access Pipeline, But No One Is Sure What That Means

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); FORT YATES, N.D. — Supporters of the Standing Rock Sioux rejoiced when the Army announced it would not allow construction of the final piece of the Dakota Access pipeline. That perhaps sounded like a definitive answer after months of protests, but insiders from the tribe and their allies knew that the fight over the pipeline remains far from over. Opponents of the pipeline aren’t even necessarily in agreement about exactly what the Army decided. The most optimistic interpretation comes from the attorney representing the Standing Rock Sioux. Jan Hasselman can envision the Army allowing the pipeline to proceed only if it were rerouted away from the tribe’s reservation.  “It would be surprising to say the least” if the disputed section gets built beneath Lake Oahe, Hasselman said. The tribe’s members fear a leaky pipeline could contaminate their water source, and they contend it violates an 1851 federal treaty. Indeed, Sunday’s statement from the Army sounds clear. The Department of the Army said it “will not approve an easement that would allow the proposed Dakota Access pipeline to cross under Lake Oahe in North Dakota,” Army Assistant Secretary Jo-Ellen Darcy said Sunday.  But there are a few reason for pause. A key tangible in the fate of the pipeline will be the change in administration. President-elect Donald Trump’s transition team indicated this week that he supports completing Energy Transfer Partners’ pipeline and will review it once in office next month. Sierra Club lawyer Doug Hayes doesn’t believe the Army’s statement completely ruled out using this route favored by the developer. Other options will be considered while the Army Corps of Engineers conducts an extensive study, called an environmental impact statement, or EIS. Hayes said it’s conceivable officials could still pick Lake Oahe as the best course.  “Everything remains unclear as far as scope, process and timing,” Hayes said of the environmental impact statement. “To me, that indicates that that crossing is still an option.”  Environmentalists who oppose the entire 1,172-mile project will favor an EIS that examines more than just the Lake Oahe section. The wider scope may look at other federal waterway crossings and grasslands and may uncover more potential risks that could cripple the developers’ plans. Energy Transfer Partners is likely to seek an EIS that just examines the small area around Lake Oahe, according to Hayes.  The Army Corps normally accepts public comments before setting the scope of an environmental impact study. The corps didn’t respond to The Huffington Post’s inquiries for clarity on the issue.  Thousands of pipeline opponents have flocked to the area, often camping in tents, tipis and other simple lodgings for weeks or months. More than 500 activists, calling themselves water protectors, have been arrested in Morton County during repeated confrontations with law enforcement. Some of the water protectors vow to keep up their resistance on federal land through the bitter cold, because they don’t believe the Army’s ruling will hold off Energy Transfer Partners.  “That’s just a ploy. It’s not going to do anything to stop the corporation,” said protester Billy McMaster, 49, of Boise. “They’re just going to go ahead and do it, and then as soon as Trump comes in, it’s just going to be a wash because he’s just going to come in and pull his muscle and his might and push us out.” Before the EIS gets sorted out — a process that takes roughly six months to one year — the pipeline designed to carry up to 570,000 barrels of oil per day could be affected by court challenges.  First up is a conference in a Washington federal court on Friday involving the developer and the Sioux tribe. After vowing to complete the pipeline despite the Army’s decision, Energy Transfer Partners on Monday filed court documents asking a judge for permission to build under the pivotal Lake Oahe reservoir.  The company said in court documents filed Monday that the Army wrongly withheld the easement because it succumbed to “political pressure” and violence orchestrated by protesters, according to Reuters. “We don’t think much of that [argument], and we don’t think the government will think much of it either,” said Hasselman, an attorney representing the Standing Rock Sioux.  A decision is unlikely Friday, but Energy Transfer Partners expects to prevail. “For more than three years now, Dakota Access Pipeline has done nothing but play by the rules,” the company and Sunoco Logistics Partner said in a joint statement Sunday. “As stated all along, ETP and SXL are fully committed to ensuring that this vital project is brought to completion and fully expect to complete construction of the pipeline without any additional rerouting in and around Lake Oahe. Nothing this Administration has done… changes that in any way.” The delays are eating into the company’s coffers and have cost $450 million, according to documents cited by The Wall Street Journal. The dispute over the pipeline in North Dakota has attracted the bulk of the media’s attention, but landowners in Iowa and the Sierra Club will be in an appeals court Dec. 15 contending that the Iowa Public Utilities Board misused eminent domain by condemning farmland. They will argue that creating a path for a private company to transport oil falls short of the public benefit that justifies seizing private property. “It goes against a lot of thrifty Iowans’ idea of what’s a good use of money,” said Carolyn Raffensperger, executive director of the Science and Environmental Health Network. “Why would you privilege one property owner over another?” -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

09 декабря 2016, 00:50

Pipelines of funds support allies of Dakota Access project

A winter storm hit the Standing Rock protestors the day after the Army Corps of Engineers denied the easement needed to build the pipeline. The pipeline has been boosted by politicians who have been heavily funded by the oil and gas industry. (Photo by Michael Nigro / Pacific Press) (Sipa via AP Images) BY: SOO RIN KIM When the Army Corp of Engineers announced Sunday it would block construction of an essential part of the Dakota Access Pipeline Project and study alternative routs, thousands of protestors at the site -- members of the Standing Rock Sioux tribe, environmentalists, veterans and others -- joined hands in jubilation. Concern about potential damage to the tribe's sacred lands and leaks that could poison the water supply led to the outcry; a semi-permanent encampment of RVs, teepees and tents sprang up in recent months as the ranks of the objectors grew. But they're not breaking camp just yet. The forces behind the $3.8 billion pipeline, which is expected to carry Bakken Shale oil from northwest North Dakota through South Dakota and Iowa to connect to an oil reserve in Illinois, have a lot of sway with President-elect Donald Trump, who could order the Corps to reverse course, and those around him. Trump indicated his support for the pipeline, including the segment that has triggered the controversy, on Monday. North Dakota Sen. Heidi Heitkamp (D), who has been mentioned as a possible Interior secretary under Trump, has avoided taking a position of the pipeline per se, but encouraged the protestors to go home: "When you look at it, we know one thing for sure: When the administration changes, the easement is going to be approved," Heitkamp said Monday. "I understand the frustration of the protesters, I just think that this fight is not winnable." A member of the Senate Indian Affairs Committee, Heitkamp and her leadership PAC have raised $8.7 million since 2011, with $277,879 from the oil and gas industry. That includes $1,500 from the political action committee of Energy Transfer Partners, which owns Dakota Access, LLC, the key player in the project. Fellow North Dakota Sen. John Hoeven (R), who recently came out supporting the pipeline, also received $5,000 from the PAC during his re-election campaign this cycle. With seats on the Energy and Natural Resources and Indian Affairs committees, Hoeven's single biggest financial supporter throughout his senatorial career has been the oil and gas industry, which has given his campaign $673,030 since 2011. In total, Energy Transfer Partners' PAC donated $128,000 to federal candidates this in the 2016 cycle. Trump's interest in the pipeline has been more than just tangential: His 2015 financial disclosure report showed he owned Energy Transfer Partners stock valued at between $500,000 and $1 million. Trump's latest financial report, filed in May 2016, shows he reduced his investment to somewhere between $15,000 and $50,000, but also revealed an investment in Phillips 66 of between $100,000 and $250,000. Phillips 66 owns about 25 percent of the pipeline, making it the biggest partner in the project after ETP. Trump sold all his shares in companies in June, including the investment in ETP, according to his spokesperson, though no documentary evidence of that has been shared. Energy Transfer Partners CEO Kelcy Warren showed his strong support for Trump in late June by donating $100,000 to his joint fundraising committee, $3,000 of which went straight to his campaign. Like many big donors this cycle, Warren flirted with other presidential prospects first, most notably former Texas Gov. Rick Perry. The pro-Perry super PAC Opportunity & Freedom I got a $5 million donation from Warren soon after Perry announced his bid last year -- but Warren received a refund after Perry dropped out of the race a few months later. Perry, it turns out, is on the board of Energy Transfer Partners. National Republican party committees also received $203,400 from Warren this election cycle. At the state level, Warren donated $250,000 to Texas Gov. Gregg Abbott (R) in this election cycle and $10,400 to Louisiana Public Service Commissioner Scott Angelle, who overseas public utilities in the state. Angelle, the onetime head of the Louisiana Department of Natural Resources, is a board member of Sunoco Logistics Partners, a subsidiary of Energy Transfer and one of the smaller owners of the pipeline project. Angelle faces a run-off election for Louisiana's 3rd Congressional District seat on Saturday, and his single biggest supporter has been the oil and gas industry, which has contributed $103,150 so far. Warren doesn't skimp: He has donated over $2.4 million to candidates, parties and committees at the federal level since 2007 and $1.7 million at the state and local level in the last decade. Energetic support Heitkamp is only the latest addition to the list of oil executives and pro-development politicians being considered to run the Interior Department, overseeing the nation's wildlife and natural resources. Trump's key energy advisor and Continental Resources CEO Harold G. Hamm, in particular, has been the mastermind of the energy policies of the president-elect. Hamm and his wife Sue Ann Hamm have donated nearly $1.9 million to federal candidates and committees over the years. This election cycle, individuals (including the chief executive) and the political action committee of Continental Resources donated $15,226 to Trump as well as $10,300 and $10,200 to Heitkamp and Hoeven, respectively. The oil billionaire who was at the forefront of the fracking boom in North Dakota was also considered a leading contender for the top job at the Department of Energy, but recently denied any plans to join Trump's cabinet. In a Wall Street Journal column published Monday, another key energy adviser to the Trump campaign, Rep. Kevin Cramer (R-N.D.) -- who also received $7,400 from Continental Resources this year -- censured the protesters. He, too, counts the energy and natural resources sector as his biggest source of financial support, especially the oil and gas industry: The sector has given his campaign and his leadership PAC $932,925 throughout his congressional career, including his unsuccessful 1996 campaign. Oasis Petroleum, whose well leaked more than 67,000 gallons of crude oil last year, endangering a tributary around the Missouri River, topped Cramer's donors, giving $68,500. North Dakota-based Armstrong Corp and Koch Industries also have given Kramer $32,800 and $33,000, respectively. While members of Congress have voiced their views on the high-profile project, the permitting process has mostly been in the purview of the states. Both the Iowa Utility Board and the North Dakota Public Service Commission have been key here. Unlike IUB members, who were all appointed by Iowa Gov. Terry Branstad, the three North Dakota public service commissioners -- Julie Fedorchak, Randy Christmann and Brian Kalk -- were elected to their six-year terms and boasted strong financial support from the energy and natural resources sector. Combined, they brought in a total of $117,550 from those interests. The North Dakota Petroleum Council forked over a total of $15,900 to the three. Hamm, of Continental Resources, gave them $1,000 each. And energy and natural resources donors have been crucial to Branstad, too, accounting for over $1 million out of $1.8 million total contributions to the governor since 2010. Unfortunately for protesters, the Dakota Access Pipeline is not the only pipeline plan that could be revived by the new administration. Cramer -- formerly a North Dakota Public Service Commissioner who helped approve the original Keystone Pipeline in 2010 -- has been a leading voice in reviving the fourth phase of the Keystone project, which would add North Dakota and Montana to its route. Called the Keystone XL, the pipeline proposal was a top election issue in 2014. The Obama administration rejected it last year, but Trump says he backs it to free America from dependence on foreign oil. Beneficiaries of the pipeline would be American oil moguls operating in the region, like Hamm and the Koch brothers. Keystone XL's biggest owner, TransCanada, appears to be stepping up its political game. Contributions from the company's employees and PAC jumped from $4,600 in the 2014 cycle to $243,226 this time around. Ohio Gov. John Kasich received $11,000, while Cramer and Trump received $5,000 and $4,136 each. Even Hillary Clinton, who publicly opposed the extended pipeline, received contributions totaling $1,639. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.