Reckless Spill Record Pushes Pipeline Company’s Shares Below $20 for First Time

Posted by on June 17, 2017 in Environment, Environmental Hazards with 0 Comments
Print Friendly, PDF & Email

Lorraine Chow | EcoWatch

Energy Transfer Partners, the company behind the controversial Dakota Access Pipeline and the fracked gas Rover Pipeline, has quite the extensive spill history, a new analysis shows.

After crunching the numbers from the Pipeline and Hazardous Materials Safety Administration (PHMSA), TheStreet revealed that the Dallas-based company spilled hazardous liquids near water crossings more than twice the frequency of any other U.S. pipeline company this decade.

According to the report:

“The company has spilled hazardous liquids five times near water crossings since 2010 when PHMSA started collecting detailed data. The company’s spills account for almost 20% of all hazardous liquid spills near water crossings since 2010, primarily because of a 55,000-gallon gasoline spill in 2016 near the Susquehanna River in Lycoming County, Pennsylvania. TheStreet only included onshore spills in its analysis, and included subsidiary companies.

“Since 2010, the company has spilled hazardous liquids 204 times in all, ranking only behind Enterprise Products Partners LP (EPD) and Magellan Midstream Partners, LP MMP, according to TheStreet’s tally.”

Energy Transfer owns about 71,000 miles of natural gas, natural gas liquids, refined products and crude oil pipelines across the country.

Alexis Daniel, an Energy Transfer spokesperson, defended the company’s safety record.

“Not only does Energy Transfer Partners adhere to the approved regulatory standards, but it is always Energy Transfer Partners’ priority to go above and beyond when building pipelines and is a common practice on all projects,” she told TheStreet. “For example on Rover, the pipeline route will be flown every ten days, weather permitting, versus every 14 days which is the current requirement, for visual inspection of the pipeline.”

Still, it’s been a rough few months for Energy Transfer. In May, the Federal Energy Regulatory Commission (FERC) rejected the Energy Transfer’s request to resume horizontal directional drilling at two sites for the Rover Pipeline after numerous leaks into Ohio’s wetlands (including 2 million gallons of drilling fluid spill near the Tuscarawas River) in addition to various Clean Air and Clean Water act violations across the state.

And earlier this week, a federal judge ruled that that the Trump administration failed to consider the Dakota Access Pipeline’s impact on the hunting and fishing rights of the Standing Rock Sioux Tribe. While the ruling did not shut down operations on the oil pipeline, which started flowing earlier this month, the judge has ordered a new environmental review.

A day after the judge’s order, Energy Transfer shares fell to $19.53 on Friday—the first time it fell below $20 a share. The stock also slid 11 percent after FERC’s order last month.

READ THE REST OF THIS ARTICLE…….

Tags: , , , , ,

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

Subscribe via RSS FeedConnect on YouTube

Leave a Reply

Your email address will not be published. Required fields are marked *

FAIR USE NOTICE. Many of the stories on this site contain copyrighted material whose use has not been specifically authorized by the copyright owner. We are making this material available in an effort to advance the understanding of environmental issues, human rights, economic and political democracy, and issues of social justice. We believe this constitutes a 'fair use' of the copyrighted material as provided for in Section 107 of the US Copyright Law which contains a list of the various purposes for which the reproduction of a particular work may be considered fair, such as criticism, comment, news reporting, teaching, scholarship, and research. If you wish to use such copyrighted material for purposes of your own that go beyond 'fair use'...you must obtain permission from the copyright owner. And, if you are a copyright owner who wishes to have your content removed, let us know via the "Contact Us" link at the top of the site, and we will promptly remove it.

The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Conscious Life News assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms.

Paid advertising on Conscious Life News may not represent the views and opinions of this website and its contributors. No endorsement of products and services advertised is either expressed or implied.
Top

Send this to friend