Gyasi Ross and Matt Remle: Divest from the Dakota Access Pipeline
MONDAY, DECEMBER 26, 2016
More on: banks, dakota access pipeline, gyasi ross, last real indians, matt remleThe #NoDAPL encampment in North Dakota on December 25, 2016.
Matt Remle of Last Real Indians and Gyasi Ross of Indian Country Today offer a guide to divesting from the financial institutions that made the Dakota Access Pipeline a reality. Tribal citizens, tribal governments and municipal governments can take part in dismantling the controversial project:
Now that the Army Corps of Engineers rejected the easement for the Dakota Access pipeline to cross the Missouri River pending an Environmental Impact Statement, there is a momentary pause in construction. This pause allows water protectors the world over to direct energies toward strategies other than simply physically keeping Energy Transfer Partners from constructing the pipeline on a day-to-day level. Instead, there can be some focus on taking the fight to Energy Transfer Partners. That is the reason we have the opportunity for an unprecedented global effort to target the pipeline company’s financiers.
According to research by Food & Water Watch 17 banks are directly financing the pipeline construction by Dakota Access LLC. Seven banks are financing both the pipeline and providing significant lines of credit offered to parent companies Energy Transfer Partners, Energy Transfer Equity, and Sunoco Logistics.
The financial backing of the Dakota Access pipeline is, of course, just one of the many reasons to not bank with the major banks such as Wells Fargo, Bank of America, US Bank, JP Morgan Chase and Citibank. These large institutions have a history of predatory lending practices to creating fake personal bank accounts. For many, financing the DAPL should be just another reason to take your funds from these institutions. Yet, for Native people, for Native institutions and for allies in this fight against the Dakota Access Pipeline, divesting from these banks is the next step in our multi-faceted fight against DAPL.