Dear Friend,

This year Democracy Now! is celebrating our 25th anniversary—that's 25 years of bringing you fearless, independent reporting. Since our very first broadcast in 1996, Democracy Now! has refused to take government or corporate funding, because nothing is more important to us than our editorial independence. But that means we rely on you, our audience, for support. If everyone who tunes into Democracy Now! signed up for a monthly donation of just $10, we could cover our operating costs for the entire year. Please do your part today. Right now, a generous donor will even DOUBLE your first monthly gift, which means it’ll go twice as far! This is a challenging time for us all, but if you're able to start a new monthly donation, please don’t delay. We’re counting on your support. Thank you and remember, wearing a mask is an act of love.
-Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.

Donate

Norway’s Largest Bank Sells Assets in Dakota Access Pipeline Company

HeadlineNov 18, 2016

The largest bank in Norway, DNB, has sold its assets in the companies behind the $3.8 billion Dakota Access pipeline, and it’s considering whether to terminate three separate loans the bank has made to finance the project. The sold assets were worth $3 million. The loans under consideration finance up to 10 percent of the pipeline’s construction. Norway’s DNB is not connected to DNB First, which is based in Pennsylvania and is not involved in the Dakota Access pipeline. This comes as Energy Transfer Partners, the company behind the Dakota Access pipeline, is almost certain to miss the January 1, 2017, deadline by which it had promised oil companies it would have completed construction, opening up the possibility the pipeline company may lose its contracts with oil companies. In recent court documents, Energy Transfer Partners acknowledged that if the Army Corps of Engineers does grant the final permit to drill underneath the Missouri River, it would still take the company between three and four months to finish the project. It’s still not clear whether the permit will ever be granted. Even if it is granted, missing the January 1 deadline means oil companies will have the right to renegotiate or even cancel their contracts to have oil shipped through the Dakota Access pipeline. These cancellations are likely, given that Bakken oil production has fallen by 20 percent since its peak in December 2014—the same year the contracts were first signed. Energy Transfer Partners has acknowledged in court filings “loss of shippers to the project could effectively result in project cancellation.”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top