Seven Ways Koch Industries Is Monetizing The Fracking Business
Ever notice the endless procession of television ads praising the value of fracking, or the amazing number of D.C.-based “institutes” and “foundations” promoting the controversial drilling method, despite growing scientific evidence that this sort of natural gas extraction is poisoning the water table and leaking carcinogenic chemicals into the environment?
Many of the pro-fracking think tanks, like the Heartland Institute and the American Legislative Exchange Council, are funded by the petrochemical conglomerate Koch Industries. To get a better idea of why Koch-funded organizations are so desperate to force fracking on local communities, Republic Report has compiled the ways in which Koch Industries has monetized the fracking business:
— 1. Koch Pipeline is partnering with NuStar Energy to develop a dormant pipeline from Pettus, TX to refineries in Corpus Christi. The pipeline will transport crude from fracking sites in southern Texas. Koch Pipeline is a Koch Industries subsidiary.
— 2. Flint Hills Resources recently purchased a small craft pier and wharf in Ingleside, TX to store shipments of natural gas from fracking operations in the Eagle Ford shale formation. Flint Hills Resources is a Koch Industries subsidiary.
— 3. Koch Supply & Trading, a Koch Industries company that deals with commodity trading and financial products, is “already trading Eagle Ford crude” to help supply Koch companies and other customers, according to a Koch Industries newsletter.
— 4. Koch Chemical Technology Group is designing a processing facility near Yoakum, TX to help process natural gas fracked in southern Texas. Koch Chemical is a subsidiary of Koch Industries.
— 5. John Zink, a Koch Industries company, is providing flares for a natural gas processing plant in Helena to service the fracking industry.
— 6. Georgia Pacific produces resins used for chemicals used to prop open micro-fractures, an important process for fracking to occur. Koch Industries acquired
— 7. Koch Fertilizer, a Koch Industries company, has tapped into increased natural gas production from fracking to develop fertilizer.
As I’ve reported, Koch Industries is owned by David and Charles Koch, two men each worth over $22 billion dollars who have plunged untold millions into an array of front groups that help lobby the government for policies that benefit Koch businesses.