Steve Mnuchin

UK Councils Invest Billions in Fracking, Including Companies Tied to Donald Trump

Read time: 6 mins
Fracking sign at Preston New Road

Council pension funds across the UK have invested billions in companies involved with fracking, new data claims. Authorities in areas where the controversial practice is set to take place also have millions invested such companies.

Some of the funds also have investments in companies with close ties to members of President Trump’s administration, which is currently embarking on a major climate and environmental regulation roll-back.

Goldman Sachs-backed Firm Invests Big in Shipping Tar Sands by Train Along Keystone XL Route

Read time: 7 mins
Oil train tank cars

USD Partners, a rail terminal operator owned in part by Wall Street giant Goldman Sachs, has signed a nearly three year deal to facilitate moving tar sands by train from where it is extracted in Alberta, Canada, to an offloading terminal in Stoud, Oklahoma, in a route mirroring that of the Keystone XL pipeline.

From Stroud, the heavy oil can be sent via pipeline to the nearby oil storage hub in Cushing, Oklahoma. USD's announcement, which said the company could transport up to 70,000 barrels per day of tar sands in rail cars, came in a June 2 filing with the Securities and Exchange Commission (SEC).

The deal, centering around the purchase of the Stroud terminal, also included the acquisition of 300,000 barrels of storage space in Cushing, a town known by oil and gas industry observers as the “pipeline crossroads of the world.” 

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