It isn’t hard to find news these days about how the crash in oil prices is impacting investment in new oil infrastructure and development. Headlines like “Big oil to cut investment again in 2016” and “Big Banks Brace for Oil Loans to Implode” appear regularly.
So why is a group fronted by two former Koch Industries executives moving forward with plans to build a new oil pipeline from Albany, NY to Linden, NJ? That is a good question. And the lack of answers as the permitting process moves forward is troubling.
The actual proposal is for two pipelines. One to supposedly handle Bakken crude oil that arrives in Albany by train. The other would return refined products to Albany from Linden, NJ.
New analysis shows that the science underpinning the global treaty aiming to stop average temperatures rising more than 1.5°C above pre-industrial levels urgently needs more research,...