The 1,172-mile pipeline is expected to carry nearly half a million barrels of crude oil daily out of the Bakken fields of North Dakota, according to the company building the pipeline, Energy Transfer Partners. Late last month, hundreds of police in riot gear used pepper spray and rubber bullets to evict protesters from land owned by Energy Transfer. PhotoThirteen of the 17 banks that participated in the latest loan to the Dakota pipeline project, including all five of the lead banks, are members. Experts also question the profitability of the Dakota pipeline, at a time of slumping oil prices. Citigroup said that it had already raised concerns over the project with Energy Transfer and advocated engagement with the Sioux tribe.

Source: New York Times November 07, 2016 23:48 UTC