Community and Environmental Advocates Call on Ares Management to Stop Funding Destructive Pilgrim Pipeline, Says UNITE HERE
86 community and environmental advocates and 63 individuals in New York
and New Jersey have called on Ares Management and its investors to
withdraw funding for Pilgrim Pipeline, the proposed 170-mile
bi-directional oil pipelines in New York and New Jersey.
In a letter sent today to Ares and several of its key investors,
advocates pledged to continue to oppose the environmentally destructive
pipelines, which are backed by a $195 million commitment from Ares
Energy Investors Funds. Capable of carrying up to 400,000 barrels of
crude oil and refined products per day, the pipelines would threaten
densely populated areas, drinking water sources and wildlife habitats
with potential leaks and explosions.
The full letter can be found at http://www.pecloserlook.org/community-and-environmental-advocates-call-on-ares-management-to-stop-funding-destructive-pilgrim-pipeline/.
In their letter, the organizations outlined the pipelines’ significant
regulatory hurdles and growing community and lawmaker opposition.
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The pipelines are opposed by all of the municipalities along the
pipeline’s proposed route in New Jersey and both houses of the state’s
legislature.
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The New Jersey utility Public Service Electric & Gas Co. has denied
Pilgrim the use of a 27-mile right-of-way, stating that “it was not in
the best interests of the utility or its customers to allow access to
the right of way.”
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In New York, where village and city boards reportedly have “veto
power” over pipelines crossing their borders under the Transportation
Corporations Law, the project is opposed by more than 20
municipalities along the proposed route.
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A bill was filed in the New York State Assembly that would call on the
New York Thruway Authority – the largest landholder along the route –
to deny the use of its right-of-way. Pilgrim has stated that alternate
routes off the Thruway are not feasible.
“We will continue to do what is necessary to defeat these pipelines,”
said Jeremy Cherson of Riverkeeper and the Coalition Against Pilgrim
Pipelines. “Ares Management and its investors should not be financing
projects that would threaten the health and safety of our communities
and the ecology of the Hudson River and its tributaries with potential
leaks and construction impacts.”
The letter follows UNITE HERE’s report on Pilgrim Pipeline’s regulatory
obstacles, and Ares Management’s failed merger with energy-focused firm
Kayne Anderson.
“How do Ares’ limited partners stand to benefit from backing an oil
pipeline that is facing so many political and regulatory obstacles,”
asked UNITE HERE research analyst Marcos Feldman.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160929005373/en/
Copyright Business Wire 2016
Source: Business Wire
(September 29, 2016 - 10:00 AM EDT)
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