Keystone XL pipeline could land Koch brothers $100 billion in profits

A new report sheds light on the politically active brothers' financial interests in the pipeline's construction

Published October 22, 2013 2:40PM (EDT)

David Koch                 (Reuters/Brendan Mcdermid)
David Koch (Reuters/Brendan Mcdermid)

As reported by the Huffington Post, a new study from the International Forum on Globalization, a liberal think tank, finds that the Koch brothers stand to yield as much as $100 billion if the Keystone XL pipeline is built.

The study finds that the Koch brothers' private company, Koch Industries, owns as much as 2 million acres of land in Alberta, Canada, where the pipeline has been planned to begin. The Kochs would also profit through their subsidiary companies, like Koch Exploration Canada, and Koch Supply and Trading.

According to the report — and despite the company's protestations that the pipeline has "nothing to do" with the Koch brothers' business — the Kochs have spent roughly $50 million supporting pro-pipeline lawmakers and think tanks.

More from the Huffington Post:

The Keystone XL pipeline is awaiting a final decision from the State Department, which is unlikely to come before 2014. If built, the pipeline would carry about 800,000 barrels of oil per day from Alberta to Gulf Coast refineries. Environmentalists worry about about the climate and environmental impacts the pipeline could have, including dramatically higher greenhouse gas emissions and a heightened risk of oil spills.

By Elias Isquith

Elias Isquith is a former Salon staff writer.

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