Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Trump supports completion of Dakota Access Pipeline

Published 12/01/2016, 06:55 PM
Updated 12/01/2016, 06:55 PM
© Reuters. U.S. President-Elect Donald Trump speaks at event at Carrier HVAC plant in Indianapolis

By Valerie Volcovici

WASHINGTON (Reuters) - U.S. President-elect Donald Trump on Thursday said for the first time that he supports the completion of a pipeline project near a North Dakota Indian reservation, which has been the subject of months of protests by tribes and environmentalists.

A communications briefing from Trump's transition team said despite media reports that Trump owns a stake in Energy Transfer Partners (N:ETP), the company building the pipeline, Trump's support of the pipeline "has nothing to do with his personal investments and everything to do with promoting policies that benefit all Americans."

"Those making such a claim are only attempting to distract from the fact that President-elect Trump has put forth serious policy proposals he plans to set in motion on Day One," said the daily briefing note sent to campaign supporters and congressional staff.

Activists have spent months protesting plans to route the $3.8 billion Dakota Access Pipeline beneath a lake near the Standing Rock Sioux reservation, saying the project poses a threat to water resources and sacred Native American sites.

On Thursday, U.S. military veterans were arriving at a camp to join thousands of activists braving snow and freezing temperatures to protest the pipeline.

Republican Trump has been a vocal supporter of another high-profile pipeline project, Transcanada's (TO:TRP) Keystone XL, which Democratic President Barack Obama denied a permit for last year.

Republican North Dakota Senator John Hoeven said he met with Trump's transition team to discuss the delayed pipeline.

"Today, Mr. Trump expressed his support for the Dakota Access Pipeline, which has met or exceeded all environmental standards set forth by four states and the Army Corps of Engineers," Hoeven said in a statement.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"It is important to know that the new administration will work to help us grow and diversify our energy economy and build the energy infrastructure necessary to move it from where it is produced to where it is needed," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.