Last updated on 21 October 2013, 9:09 pm
Koch Industries has access to 2 million acres of land in Alberta, Canada, giving it access to most of the supply chain
One of the largest private corporations in the US stands to make billions if the controversial Keystone XL (KXL) pipeline goes ahead, says a new report released today.
The report, Billionaires’ Carbon Bomb by think tank International Forum on Globalization (IFG) has found that David and Charles Koch, through their privately-owned oil supply and refining company, Koch Industries, own more than two million acres of land in Alberta, Canada, which would propel the brothers’ personal wealth and political power ever faster and upward.
IFG’s report reveals that Koch Industries’ role in KXL could generate potential profits of $100 billion, or one million more times than the average KXL workers’ wage over the lifetime of the project.
The brothers’ wealth would also see a total of $53 million in the pockets of groups and politicians who are pushing to fastrack the pipeline.
According to the report, Koch Industries has several profit streams all along the tar sands value chain from crude oil production on land holdings of Koch Exploration Canada in Alberta’s tar sands territory, to their 4,000 miles of pipeline operated by Koch Pipeline Company, to their lucrative oil derivatives dealing by Koch Supply and Trading.
– See more at: http://www.rtcc.org/2013/10/21/keystone-will-create-cash-cow-on-steroids-for-koch-brothers/#sthash.sENjFGBD.JFXGuWHq.dpuf