Follow the money: Dems invested in Keystone XL competitors

Follow the money: Dems invested in Keystone XL competitors

[Ed. – And sure, others – Republican and Democrat – are probably invested with Keystone XL. Big government blows serious chunks.]

Democrats who oppose the Keystone XL pipeline have thousands of dollars invested in direct competitors to the company looking to build the pipeline, public records show.

A recent environmental assessment by the State Department was seen as a step toward the pipeline’s approval, but Sen. Tim Kaine (D., Va.) remains opposed to its construction.

“In my view, there is now enough evidence to conclude that construction of this pipeline is not in America’s long-term interest,” Kaine said in a statement on the review.

The freshman Democrat has between $15,000 and $50,000 invested in Kinder Morgan Energy Partners, according to his most recent financial disclosure. Kinder Morgan is looking to build a pipeline that would directly compete with Keystone.

Kinder Morgan is considering expanding its Canadian pipeline infrastructure with an expansion of the Trans Mountain Pipeline, which carries oil sands crude from Alberta to refineries and export terminals on Canada’s west coast.

The expansion would boost Trans Mountain’s capacity to 890,000 barrels per day. Keystone, a project of energy company TransCanada, is expected to carry about 830,000 barrels per day if fully constructed.

Observers have said a rejection of Keystone would be a boon for Kinder Morgan, since the Trans Mountain pipeline presents a viable alternative for exporting crude from Canadian oil sands.

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