Could the now dead Keystone XL Pipeline deal end up costing the United States more than $15-billion?
The question is out there–with the company that was behind the plan now using provisions in the deal to try to collect that much cash in damages–much to the frustration of environmentalists.
“We are giving those entities rights and the ability to trump those government decisions–or at least extract ridiculous amounts of money in return for decisions they don’t like” said Oil Change International Executive Director Stephen Kretzmann, who is frustrated by what appears to be a growing trend of similar provisions in such deals.
“The only winners are the corporate backers of trade deals at the end of the day” Kretzmann said.
Many environmentalists believe such provisions only make it harder to meet the air quality goals agreed to during the climate talks in Paris late last year.