Tar Sands Pipelines Are Heavily Financed by 26 Key Banks

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(Greenpeace) Twenty-six banks are the primary sources of credit for the companies building three pipelines aiming to move Canada’s tar sands to market. Greenpeace is releasing research showing the connections between these banks and the pipelines that could facilitate the expansion of one of the world’s dirtiest energy sources.

Twenty-six key banks are lending money to the companies building the following tar sands pipelines:

  • TransCanada’s proposed Keystone XL pipeline

  • Enbridge’s proposed replacement and expansion of the existing Line 3 pipeline

  • Kinder Morgan’s proposed expansion of the existing Trans Mountain pipeline

  • [A fourth proposed pipeline, TransCanada’s Energy East project, was recently cancelled.]

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Elisabeth Soto