Emergency Demonstration in Solidarity with Standing Rock
Start: Sunday, February 12, 2017•12:00 PM
The Army Corps of Engineers has granted the final easement to Energy Transfer Partners to drill under Lake Oahe and complete the Dakota Access Pipeline.
We cannot stand idly by while the rights of this nation's indigenous people's are disregarded, and while oil profits are, once again, placed ahead of needs for clean water, clean air, and a healthy and safe environment for future generations.
We will meet on Sunday, February 12th at 12pm at the corner of W Newberry Road and NW 75th Street, and then walk to TD Bank, one of the primary funders of the Dakota Access Pipeline, to protest their support and involvement in the construction of "the black snake" across Standing Rock Sioux tribe land and water.
It's time to come together, to stand up, to speak up, to "find our warrior spirit," as nodaplsolidarity.org is calling us to embody and act upon.
RSVP at https://www.facebook.com/events/154927948345987/
THE CALL TO ACTION:
From Sacred Stone Camp:
"The Indigenous Coalition at Standing Rock is calling for international emergency actions from February 8th onward. Join us in our #NoDAPL Last Stand. Rise with us to disrupt business as usual and unleash a global intersectional resistance to fossil fuels and fascism. Connect with other struggles. Think long-term movement building -- we are in this for the long haul."
WHY TD BANK?
From #NoDAPL Solidarity:
TD Bank and CitiGroup
The oil companies behind the pipeline are rich, but they aren’t rich enough to shell out the $3.8 billion needed to build the pipeline on their own. While each of the companies involved holds lines of credit with numerous banks and financial institutions, the money that is ear marked specifically for the project is a $2.5 billion project finance loan.
The loan, which closed on August 2, 2016 was coordinated by Citibank along with the Bank of Tokyo-Mitsubishi, Mizuho Bank and TD Securities. The interesting piece of this loan is that under the credit agreement the borrowers could only access $1.1 billion immediately. The other $1.4 billion would not become available until the pipeline received the appropriate permits.
As of the closing of the loan agreement $860.7 million of that original $1.1 billion had already been borrowed. If Citibank, the Bank of Tokyo-Mitsubishi, Mizuho Bank and TD Securities were to hold back remaining $1.4 billion the cash for the pipeline could dry up and the project could come grinding to a potentially permanent halt.