DNB, the largest bank in Norway, has just sold its assets in the Dakota Access Pipeline (DAPL). Reports are unclear on the extent and nature of these assets (or maybe I just don’t know how to translate financialese). However, by all accounts the assets dumped by the bank are substantial.
Further, DNB is now considering the withdrawal of its loans to the project as well, which would leave a major gap in the project’s financing.
A first crack in the banking wall, DNB’s move is a direct result of steadfast resistance to the invading pipeline by the besieged Standing Rock Sioux and their allies, and escalating public pressure on the banks to divest from it.
As early winter chills the Dakota plains, a brutal war continues to escalate against Indigenous people defending land, water and life from the invading Dakota Access Pipeline (DAPL). The pipeline is meant to carry 500,000 barrels of toxic crude oil per day from North Dakota to Illinois. From years of bitter experience, catastrophic spills should be expected.
The project has faced determined resistance for months from the Standing Rock Sioux and members of nearly 100 indigenous peoples from across the U.S. and Canada. They carry on a centuries’ long struggle against colonial invasion and violence throughout the Americas.
By now 100s of defenders have been arrested, clubbed, pepper-sprayed, and maced. Updates here, and here.
Solidarity protests are being held and planned across the US and in Canada. For those of us who care but are unable to participate, action is still possible:
Behind the uniformed bullies with their military and chemical weapons, attack dogs, sound-cannons, assault vehicles and helicopters, lurk corporate oil/gas plunderers (in this case aka “Energy Transfer Partners”), and behind them hired governments, and behind them all, the international banking mafia safe in their glittering towers.
As well as raking in massive subsidies from governments, the pipeline builders also need major financing from banks. According to researchers at the US nonprofit Food & Water Watch, the $3.8 billion DAPL is financed by 17 banks in the US, Canada, Japan, Britain, France, Germany, Spain, Italy, Holland, Switzerland and Norway. All of them have the power to determine who gets financing and for what.
Contact information for the CEOs of DAPL-complicit banks is here.
Among them are three Canadian banks. One of them, TD (indicated by *), is directly complicit in the Dakota pipeline, and all three of them provide financial backing to the vast Bakken pipeline network, of which DAPL is one piece.
CEO contact information:
* TD Securities. Chairman, CEO, and President Bob Dorrance.
Corporate Office: P.O. Box 1, TD Bank Tower, 66 Wellington Street West, Toronto, Ontario M5K 1A2.
Last Thursday 200,000 liters of crude oil spilled into the North Saskatchewan River, soaking wildlife and forcing cities to shut off public water supply. Details here.
A great blue heron, victim of Husky Energy. (Photo: Lend a Paw Animal Rescue/Facebook)
The pipeline started to leak on Thursday July 21. It continued to spill into the river for four days, 200,000 litres of toxic crude oil, before perpetrator Husky Energy shut it down.
This is the latest of dozens of catastrophic pipeline spills across North America in the past three years. But right on cue and with dazzling gall, Alberta NDP Premier Rachel Notley leapt to defend the indefensible. “Even with this spill it remains the case that absolutely the safest way to transport oil and gas is by way of pipeline,” she told the Canadian Press. “Had a spill occurred on rail there might well be injuries involved. In everything you do there are risks, but I would suggest overall the risks [of pipelines] are low.”
In the sheltered halls of power perhaps, but for the rest of us out here in the real world, this is crude bullshit, insult piled on injury. Of course hauling crude oil by train has also proven catastrophic. Ships too. There is no safe way to extract, move, refine or use this stuff. It’s a disaster, start to finish. Only safe solution: Leave it in the ground.
In the previous post I mentioned the extreme dangers that secretly-negotiated, corporate-dictated international trade deals pose to our fragile planet, and our efforts to defend it.
A nightmarish example of such a deal is the prettily named Trans-Pacific Partnership (TPP), recently signed by – among other perpetrators – a representative of the former Northern Republican (aka Conservative) regime in Canada, just before they got the electoral boot.
Please note: The TPP is not a done deal for Canada until the newly constituted Parliament ratifies it. As of now, the Liberal majority looks alarmingly prepared to do so, but with enough public pressure, who knows what might happen…
Due to lack of time and space, I didn’t provide details on the actual dangers of the TPP to the earth and its inhabitants.
On a grey, chilly day, 25,000 of us (give or take a few) took to the streets of the national capitol. Beautifully diverse in race, origin, faith, age, gender, orientation, and politics, we sent one message to those in power: Climate solutions and climate justice = 100% Possible. 100% renewables by 2050 = 100% possible. Act now or get out of the way.
If you ask me, 2050 is too far away. So easy for slippery politicians to say, “2050? Why not, whatever…” But that’s just me, quibbling.
I suspect there are few illusions among this crowd as to what we face: a towering, apparently seamless wall of greed, governments bought and sold, rampant corruption, fear and inertia. By hook or by crook, the arrogant few inside the castle control the levers of power and will do whatever it takes to hold onto them.
This tyranny was imposed, and will continue to be imposed, in the name of anti-terrorism. This is the “democracy” that the authorities claim to defend.
But: With the earth’s life support systems under sustained corporate assault and engineered wars, fully backed by virtually every government on the planet, as humanity and our neighbours sink into ever deepening harm and peril, it only takes open eyes to see who are the real terrorists.
Here in comfy Canada, our shiny, smiling new government is doing some good things, beginning to undo at least some of the wreckage perpetrated by the outgoing Northern Republicans (aka Conservatives). At the same time, the newly elected Liberal government openly supports the atmosphere-killing tar sands, the pipelines and trains needed to deliver their toxic brew to ports and ships on both east and west coasts, as well as the Trans-Pacific Partnership, a catastrophic corporate-dictated trade agreement, negotiated in secret, that will make it virtually impossible for any signatory government to take effective action against climate collapse.
But despite all this, people everywhere will continue to find creative ways to express their love for the earth and for justice, and their refusal to comply with those who would trample both.
In Ottawa, November 29, 2015, the people’s march for climate justice culminated with the creation of a giant message to Parliament. (Look for me about halfway up the right side of the second zero…)
In our thousands, we spelled it out for them: 100% possible.