The United States has the largest network of energy pipelines in the world, with more than 2.4 million miles of pipe. The network of crude oil pipelines in the U.S. is extensive. There are approximately 72,000 miles of crude oil lines in the U.S. that connect regional markets.
Yet all of the sudden, CalPERS and more than 100 other investment groups are calling on banks financing the controversial Dakota Access Pipeline to pressure the company building it to reroute it away from the American Indian tribe that has protested its construction.
It seems the rest of the pipelines in the country are fine with CalPERS.
CalPERS, the $309 billion retirement fund, released the letter just days after dozens of impassioned protesters called on it to divest from the project. Assemblyman Ash Kalra, D-San Jose, also has submitted a bill that would compel CalPERS to divest from the project.
Read the whole story in the Sacramento Bee
Categories: Sacramento Update