Send a Tweet
Most Popular Choices
Share on Facebook 32 Share on Twitter 1 Printer Friendly Page More Sharing
OpEdNews Op Eds    H2'ed 11/7/16

Norwegian Bank Considering Pulling out of Dakota Pipeline Investment (10%) if "Native Concerns Not Addressed"

By       (Page 1 of 1 pages)   5 comments
Become a Premium Member Would you like to know how many people have read this article? Or how reputable the author is? Simply sign up for a Advocate premium membership and you'll automatically see this data on every article. Plus a lot more, too.
Author 4578
Message Stephen Fox
Become a Fan
  (31 fans)

Protest against the Dakota Access Pipeline
Protest against the Dakota Access Pipeline
(Image by Fibonacci Blue)
  Details   DMCA

This is really major news, the one move that may turn the tide for other banks to follow suit, especially after wave after wave of protesters let them know of their displeasure, and withdraw their monies. If you are able to speak with your bank in the near future, please be sure they know this breakthrough in news, and you could also ask the Wall St. Journal and NY Times to cover this as soon as they can, in your own quick letter to the editor, please....wsj.ltrs|AT|wsj.comEmail address and letters|AT|nytimes.comEmail address Remember, that what you are seeing here on OEN is scooping all of the national media, large and small]:

click here

One of Norway's largest banks is reconsidering its 10% line of credit for DAPL, "if concerns raised by Native American tribes against its construction are not addressed," it stated late on Sunday.

Local authorities and protesters have been clashing over Energy Transfer Partner's $3.8 billion Dakota Access pipeline project, which would offer the fastest and most direct route to bring shale oil from North Dakota to Illinois.

Native American tribes contend that the pipeline would disturb sacred land and pollute waterways supplying nearby homes. Protests have reached alarming levels, and the police violence has no doubt been noticed by bankers in Oslo.

"DNB looks with worry at how the situation around the pipeline in North Dakota has developed. The bank will therefore take initiative and use its position to bring about a more constructive process to find a solution to the conflict," Norway's largest bank said in a statement.

"If these initiatives do not give appeasing answers and results, DNB will consider its further involvement in the financing of the project."

The bank didn't say in its statement how much financing it is contributing to the project and related lines of credit. However, Norway's largest daily newspaper, Aftenposten, reported the bank is responsible for some $342.36 million in loans to build the pipeline, or close to 10 percent of the cost of the project.


This is major good news for DAPL protesters and we sincerely hope that the other giant banks like Bank of America and Wells Fargo will have the sense to follow through similarly. Wells Fargo, in particular, with its recent public relations debacle and Senate hearings, might have the acumen to do this as well, and thereby regain some of the lost respect that they value.

My new article: Dakota Access Pipeline: Reroute It or Totally Pull the Plug

(Article changed on November 7, 2016 at 22:23)


Must Read 3   Valuable 2   News 1  
Rate It | View Ratings

Stephen Fox Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Early in the 2016 Primary campaign, I started a Facebook group: Bernie Sanders: Advice and Strategies to Help Him Win! As the primary season advanced, we shifted the focus to advancing Bernie's legislation in the Senate, particularly the (more...)

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

NYC Council "STANDS UNITED" WITH N.DAKOTA PROTESTERS, 2 new videos of police using pepper spray and rubber bullets

Bernie Meets with LA Times Editorial Board (this is the complete transcript!)

Mirena Interuterine Devices can cause Depression, Mood swings, Acne, Back Pain, Uterine Cysts, and Uterine Perforations

What does Coca Cola's Dasani bottled water have in common with Death by Lethal Injection?

CA Exit Polls reveal 23% Discrepancy; 11 States With Vote "Flipping" Evidence; Our New Directions in American History?

In the California Primary, More Ballots Remain Uncounted than the Total Number of votes for Hillary Clinton!

To View Comments or Join the Conversation: