Check out my new story on Bay Area-based banks and investment firm that are financing the Dakota Access Pipeline and/or fracking companies that are poised to supply the pipeline with crude oil, published by the North Bay Bohemian. I have another story in the works that focuses specifically on Wells Fargo. Stay tuned.
“Mill Valley’s Shelterpoint Business Center occupies a narrow strip of asphalt between Richardson Bay and Highway 101, roughly five miles north of the Golden Gate Bridge. In the back of the office complex stands a tan building with floor-to-ceiling windows that offer sweeping views of Mt. Tamalpais’ grassy southeastern slopes. This is the headquarters of SPO Partners, the North Bay’s largest hedge fund.
“The serene sophistication of this setting belies the nature of SPO Partners’ business. The $5.2 billion investment firm is among the country’s leading financial backers of oil and natural gas fracking. Its web of financial connections tie it directly to the country’s most controversial infrastructure project—the $3.7 billion, 1,134-mile Dakota Access Pipeline—and even Republican Party presidential candidate Donald Trump’s economic policy team.
SPO Partners is the largest investor in Oasis Petroleum of Houston, Texas, which controls more than 400,000 acres within the Bakken and Three Forks oil basins of North Dakota and Montana. Oasis is working to complete a 19-mile oil transmission system from its North Dakota petroleum handling facility to the Dakota Access Pipeline, thus positioning it to supply roughly one-ninth of the pipeline’s estimated 470,000 barrels of daily crude oil deliveries, records with the North Dakota Public Service Commission show.” Click here to keep reading @ North Bay Bohemian >>