Koch Brothers Could Make $100 Billion If Keystone Pipeline Is Built

| by Emily Smith

Approval of the Keystone XL pipeline could generate $100 billion for billionaire brothers Charles and David Koch, according to a progressive think tank called the International Forum on Globalization.

The study found that Koch Industries holds up to 2 million acres of land in Alberta, Canada where the pipeline is meant to start. Koch Exploration Canada would profit from oil development on its land, and Koch Supply and Trading would profit from oil derivatives trading.

An estimated $50 million was donated to members of Congress who pushed for the pipeline to be built, according to the report. The Koch brothers have invested heavily in members of the Tea Party, and have encouraged inactivity in respect to the environment.

Despite these facts, Koch Industry officials have denied any connection to the pipeline in the past.

Environmentalists have feared the development of the pipeline since its conception, arguing that greenhouse gas emissions will increase and that there will be a higher risk of oil spills.

The Keystone is currently waiting for a final decision from the State Department, though it is unlikely one will be made before 2014.

If built, the pipeline will deliver 800,000 barrels of oil per day from Alberta to Gulf Coast refineries.

Sources: The Huffington Post, Truth Dig, Koch Cash