Wall Street Worries About Kinder Morgan’s Safety Record
BC pipeline operator slashes and defers maintenance spending.
Kinder Morgan is a titan in the North American energy sector and a major player in Northwest fossil fuel shipments. The firm was the author of a failed scheme to export huge volumes of coal on the Columbia River in Oregon, and it is lobbying heavily to triple its oil pipeline through British Columbia in a bid to move more tar sands oil to Washington refineries and Asian markets.
It is also, as Sightline has documented, a dangerous and irresponsible company with a clear history of law breaking, deceit, and pollution.
Last week, a financial research firm, Hedgeye, released a scathing report on Kinder Morgan that supports many of Sightline’s conclusions. Aptly titled Is Kinder Morgan Maintaining its Stock Prices Instead of its Assets? (no longer available online), the report is mainly concerned with Kinder Morgan’s books, but it includes a few bombshells that should worry the public.