Trump and his key advisors stand to profit from the Dakota Access Pipeline
Their financial ties are detailed in Antonia Juhasz’s report for Grist about what Donald Trump’s win means for the controversial pipeline, which would run through Standing Rock Sioux sacred lands and under their primary water source.
- Trump has personally invested between $500,000 and $1 million in Energy Transfer Partners — the very same company that’s constructing the pipeline.
- Trump has an additional $500,000 to $1 million holding in Phillips 66, which would have a 25 percent stake in the completed Dakota Access project.
- Energy Transfer Partners Chief Executive Kelcy Warren donated $103,000 toward Trump’s campaign and a further $66,800 to the Republican National Committee after he became the party nominee.
- Harold Hamm, a top Trump campaign advisor and leading candidate for energy secretary, is the CEO of Continental Resources, whose oil would be carried through the Dakota Access Pipeline.
- John Paulson, another campaign advisor, is heavily invested in the Bakken oil and gas industry. And that’s just the start for fossil fuel connections on Trump’s team.
The day following Trump’s victory, the stock value of Energy Transfer’s parent company surged 15 percent as the pipeline’s future went from uncertain to a sure bet. The project was 84 percent complete as of Thursday and could be green-lighted by Obama even before Trump’s inauguration.