Trump unloads shares in Dakota pipeline parent company

According to financial disclosure forms, President-elect Donald Trump previously owned between $15,000–$50,000 stock in Energy Transfer Partners, a Texas-based natural gas and propane firm which is at the epicenter of the Dakota Access Pipeline (DAPL) controversy.

Mr. Trump disposed of his holdings in the firm over the summer as protests aimed at thwarting the project were building, according to campaign spokeswoman, Hope Hicks.

Once valued at over $500,000, Trump’s holding shrank to less than $50,000 at the time of the sale.

Similarly, Trump sold his stake in Phillips 66, a second Texas-based petroleum firm expected to share 25 percent ownership in DAPL upon its completion.

Designed to transfer up to 570,000 barrels a day from North Dakota’s Bakken region along a 1,168-mile pipeline to Iowa and Illinois, the DAPL has been enveloped in controversy over the proximity to the Standing Rock Indian Reservation.

DAPL’s planned route would meander across the Missouri River near the Standing Rock Reservation.

Environmental groups and the Sioux Indian Tribe oppose the construction of the pipeline over concerns the pipeline would infringe on tribal lands and an oil spill would contaminate the Missouri River, the principal water source for the region and tribe.

A fountainhead of controversy for the Obama administration, a court order in September halted construction on the $3.7 billion project.

Construction on the pipeline has bee the site of numerous reports of vandalism, with over $1 million in reported damage to work equipment as the result of fires set by protesters.

Contractors working on sites in several states have responded to hiring private security firms to protect workers involved in the pipeline’s construction from protesters.

 

[Washington Post] [Daily Caller] [Photo courtesy Newsday]