Koch Brothers Positioned To Be Big Winners If Keystone XL Pipeline Is Approved SolveClimate
Newsa permit for the Keystone XL to be granted, he would be handing a big victory and great financial opportunity to Charles and David Koch, his bitterest political enemies and among the most powerful opponents of his clean economy agenda.
The two brothers together own virtually all of Koch Industries Inc. — a giant oil conglomerate headquartered in Wichita, Kan., with annual revenues estimated to be $100 billion.
A SolveClimate News analysis, based on publicly available records, shows that Koch Industries is already responsible for close to 25 percent of the oil sands crude that is imported into the United States, and is well-positioned to benefit from increasing Canadian oil imports.
A Koch Industries operation in Calgary, Alberta, called Flint Hills Resources Canada LP, supplies about 250,000 barrels of tar sands oil a day to a heavy oil refinery in Minnesota, also owned by the Koch brothers.
Flint Hills Resources Canada also operates a crude oil terminal in Hardisty, Alberta, the starting point of the proposed Keystone XL pipeline.
The company's website says it is "among Canada's largest crude oil purchasers, shippers
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