Stock Market Investment Site Calls TransCanada Pipelines “Unwise Investments”Tweet
July 3 2017 – Seeking Alpha, a crowd-sourced content service for financial markets, says TransCanada’s Energy East and Keystone XL pipelines are an “unwise investment”.
The highly popular site for financial investors, which draws up to 8-million viewers per month, states Indigenous resistance as being a key reason to not invest in TransCanada.
They state, “It is a near certainty that TransCanada (NYSE:TRP) will meet ferocious resistance to the construction of the Energy East Pipeline and the Keystone XL Pipeline Expansion from Indigenous communities. It is significantly less certain whether TransCanada will be able to bring either pipeline into operation. The risk created by the construction of these two pipeline projects makes TransCanada an unwise investment.”
Energy East Pipeline, if built, would transport 1.1 million BPD of crude oil from Alberta to the East Coast for refinement. The pipeline is opposed by over 100 1st Nations and Tribe’s across North America who have signed a treaty pledging resistance to the pipelines.
They state, “The Mohawks are not the only Indigenous group to oppose the construction of the Energy East Pipeline. Over one hundred Indigenous groups from across North America have pledged to resist the expansion of pipeline infrastructure from the Alberta oil sands. TransCanada’s Energy East and Keystone XL Pipeline Expansion are two major targets of this newly founded alliance. In sum, the Energy East Project faces regulatory delays, environmental activism, and Indigenous resistance. It remains to be seen how long these factors will delay the construction of the contentious pipeline project.”
The proposed Keystone XL pipeline is a 1,179-mile long pipeline that would run from the oil sands in Alberta to Nebraska where it would link to an existing pipeline on-route to the Gulf Coast for export. It would carry up to 830,000 barrels of oil per day.
It too faces intense resistance from Indigenous peoples, environmentalist, and farmers.
The author also cautions investment due to the potential of stock share prices and the possibility that they could plummet due to protests.
It highlights Energy Transfer Partners plummeting stock prices that followed the NoDAPL protests, “Following the violent clashes in North Dakota and regulatory delays which impeded the construction of the Dakota Access Pipeline, Energy Transfer Partners’ share price plummeted. Investors wishing to avoid the same downturn may think twice before buying shares of TransCanada.”
by Wakíƞyaƞ Waánataƞ (Matt Remle- Lakota)