Trump's Financial Interest In Dakota Access Pipeline

The Donald does more than just slap his name on buildings. The Trump Organization is a huge, festering conflict of interest.



Yes, that's the pipeline that's been in the news for weeks. There have been some incidents of violence, but over-militarized police and private security guards are also using water cannon in freezing temperatures and siccing dogs on peaceful protesters.

Click here for an article at CBS News by Lucy Nicholson (Reuters) entitled "Donald Trump's stock in Dakota Access oil pipeline raises concerns." Click here for the Dakota Access Pipeline Wikipedia entry.

President-elect Donald Trump holds stock in the company building the disputed Dakota Access oil pipeline, and pipeline opponents warn that Trump’s investments could affect any decision he makes on the $3.8 billion project as president.

Trump’s 2016 federal disclosure forms show he owned between $15,000 and $50,000 in stock in Texas-based Energy Transfer Partners. That’s down from between $500,000 and $1 million a year earlier.

Trump also owns between $100,000 and $250,000 in Phillips 66, which has a one-quarter share of Dakota Access.

While Trump’s stake in the pipeline company is modest compared with his other assets, ethics experts say it’s among dozens of potential conflicts that could be resolved by placing his investments in a blind trust, a step Trump has resisted.

Others among Trump's wealthy hangers-on also stand to benefit:

Besides Trump, at least two possible candidates for energy secretary also could benefit from the pipeline. Oil billionaire Harold Hamm could ship oil from his company, Continental Resources, through the pipeline, while former Texas Gov. Rick Perry serves on the board of directors of Energy Transfer Partners.

How do the pipeline owners view Trump's involvement? As you might expect:

Kelcy Warren, CEO of Dallas-based Energy Transfer, told The Associated Press that he expects Trump to make it easier for his company and others to complete infrastructure projects.

“Do I think it’s going to get easier? Of course,” said Warren, who donated $3,000 to Trump’s campaign, plus $100,000 to a committee supporting Trump’s candidacy and $66,800 to the Republican National Committee.