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Thu Jan 26, 2012, 06:55 PM

BREAKING: TransCanada’s Dirty Keystone XL Jobs Claims Draw Complaint To SEC

ThinkProgress Green has learned that TransCanada, the foreign tar sands company behind the proposed Keystone XL pipeline, is facing a potential inquiry into whether it deliberately deceived investors by inflating the job-creation potential of the project. Greenpeace has filed a complaint with the Securities and Exchange Commission (SEC) over TransCanada’s “false or misleading statements about the proposed Keystone XL pipeline project.”


In the complaint, Greenpeace shows evidence from TransCanada’s Canadian filings and the State Department that the project would involve fewer than 1000 in-state jobs, and around 6000 total jobs. This evidence is contrasted with TransCanada’s (TRP) repeated public pronouncements that pipeline construction would involve 20,000 American jobs:

Specifically, TRP has asserted that each mile of KXL pipeline constructed in the U.S. would create American jobs at a rate that is 67 times higher than job creation totals given by the company to Canadian officials for the Canadian portion of the pipeline.

These false and misleading job creation numbers are part of TRP’s lobbying and public relations campaign designed to create congressional pressure on the U.S. government to issue a Presidential Permit approving construction of KXL. Without government approval, TRP will not be able to build KXL, which will significantly impact the company’s future earnings and share price. That government approval was thrown into serious doubt last week when President Obama rejected the current KXL pipeline proposal at the State Department’s recommendation.

Reade more: http://thinkprogress.org/green/2012/01/26/412724/breaking-transcanadas-dirty-keystone-xl-jobs-claims-draw-sec-complaint/

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Reply BREAKING: TransCanada’s Dirty Keystone XL Jobs Claims Draw Complaint To SEC (Original post)
Galraedia Jan 2012 OP
Turbineguy Jan 2012 #1
primavera Jan 2012 #4
karynnj Jan 2012 #2
Hestia Jan 2012 #3
lib2DaBone Jan 2012 #5
wordpix Jan 2012 #6
Galraedia Jan 2012 #7

Response to Galraedia (Original post)

Thu Jan 26, 2012, 06:58 PM

1. Good going guys,

start out a project involving trust, by lying.

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Response to Turbineguy (Reply #1)

Thu Jan 26, 2012, 08:39 PM

4. Why not?

It's what everyone else does, why should they be any different?

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Response to Galraedia (Original post)

Thu Jan 26, 2012, 07:44 PM

2. Make the Republicans defend why a Canadian worker is 67 times as efficient!

I hope the SEC and the state department, whose job it is to approve or disapprove of this deal, do something because of this. It is appalling that they clearly either understated the workforce in Canada (maybe to underestimate the cost - does Canada subsidize this?) or they are lying here.

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Response to Galraedia (Original post)

Thu Jan 26, 2012, 08:21 PM

3. At the Port of LR, there are stacks of pipeline waiting to be shipped for this project.

Profits go to India - not 100% sure the pipes are even made in the US. I'll have to go dig out the article again.

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Response to Galraedia (Original post)

Fri Jan 27, 2012, 05:18 AM

5. Is this oil going to China or not?

 

Main stream media refuses to confirm or deny that this oil is pre-sold to China.

No one will talk about it.

Just like no one wanted to talk about the fact that foreign steel and foreign parts will be used.


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Response to lib2DaBone (Reply #5)

Fri Jan 27, 2012, 11:43 AM

6. speaking of steel, don't forget that TransCanada wanted a waiver to use especially thin steel, but

withdrew the proposal after protests by environmental groups.


Very safety minded company.

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Response to lib2DaBone (Reply #5)

Fri Jan 27, 2012, 02:02 PM

7. The oil would be exported.

Also the parts to the pipeline are made in India.

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