U.S. Bank Pulls Enbridge Line of Credit, Line 3 Opponents Say

U.S. Bank has pulled its portion of a $1.3 billion line of credit from Enbridge, according to a news release from Honor the Earth and MN350. It is a victory in efforts to get banks to divest from tar sands pipelines.

Here is the release in full:

MINNEAPOLIS-ST. PAUL — November 2, 2017 — U.S. Bank has ended its credit relationship with Enbridge Inc., the Canadian company seeking to expand tar sands oil transportation through Northern Minnesota with the controversial proposed Line 3 pipeline. U.S. Bank’s move comes amidst a growing local and global movement calling on the banking industry to cut ties to fossil fuel extraction.

A report released today by the Rainforest Action Network, “Funding Tar Sands: Private Banks vs. The Paris Climate Agreement,” cites Bloomberg investor data and criticizes 36 other banks for financing the Canadian pipeline company Enbridge. The report shows that U.S. Bank no longer holds a credit relationship with Enbridge.

As recently as August 2016, U.S. Bank had been a part of extending a multi-bank $1.3 billion line of credit to Enbridge that was not set to expire until late 2019. Last spring, U.S. Bank updated its Environmental Policy to end project-level pipeline construction financing. Continue reading

Advertisements

Honor the Earth, Other Groups, Add New Education Resources to Stop Line 3

New Honor the Earth map on Enbridge Line 3.

If you are a reader of this blog, mostly likely you are strongly opposed to the proposed expansion and reroute of a tar sands crude oil pipeline through northern Minnesota (see map at right).

Enbridge has an old and failing Line 3 (the black line on the map). Enbridge proposes to abandon that line in the ground and install a new, larger pipeline along a new route (the red line on the map.) That new route crosses the Mississippi headwaters and endangers clean lakes, rivers and wild rice beds, and all for nothing. Minnesota’s fossil fuel demand is actually declining.

If you are like a lot of people, you want to have your voice heard but don’t have to time to wade through the hundreds of pages in the recently released draft Environmental Impact Statement (DEIS). Even the most ardent opponents struggle to get through it.

But the good news is, they did. As a result, there are lots of easy-to-read fact sheets coming out to help you understand the core issues. Here are a few helpful resources:

We have created a separate Enbridge Line 3 tab on our blog to organize this kind of information about Line 3 and make it easy to find. If you think we are missing content, please send us a comment.

Keep reading to get a taste of some of the fact sheets’ analysis. Continue reading

Today: Local Protest Against DAPL; Major Diesel Pipeline Spill in Iowa

Protest marches are scheduled today against President Trump’s efforts to push through approvals for the Dakota Access Pipeline (DAPL) and revive the Keystone XL Pipeline.

One march will start in Saint Paul, meeting at Cretin and Marshall avenues. The other march will start in Minneapolis at 47th Avenue South and Lake st. Meet at either site at 3:30 p.m. They will both march to and converge at the Lake Street/Marshall Avenue bridge. Bring signs and banners. This is a nonviolent protest. It will start with prayer, followed by speeches by community leaders and youth. Kalpulli Yaocenoxtli dancers will speak and dance. There will be an open mic and closing prayer.

The event is being organized by youth and MN 350. Here is the Facebook page.

Iowa Diesel Pipeline Spill

In related news MPR is reporting today on a pipeline spill in Iowa: ‘It’s a big one’: Iowa pipeline leaks nearly 140,000 gallons of diesel. The leak occurred in a 12-inch underground pipeline. (For comparison, the DAPL would be a 30-inch pipe carrying crude oil.) Because the pipelines are under pressure, once a leak starts, it leaks fast.

The MPR story said the pipeline, owned by Magellan Midstream Partners, “runs through Illinois, Iowa, Minnesota, North Dakota, South Dakota and Wisconsin, as a transport route for multiple refined oil products, ‘including Diesel, Gasoline, Jet fuel, Natural gasoline, Naptha, Propane, Natural Gas, Butane.'”

More than a foot of snow has fallen since Monday in some parts of north-central Iowa. As of Wednesday afternoon, cleanup crews had sucked up “about 25,000 gallons of diesel and a slush-diesel mixture,” reported the Globe Gazette newspaper in Mason City, Iowa.