Corporate Sway, Conflicts of Interest, and Revolving Doors
BUFFALO, N.Y. – The powerful forces pushing a controversial pipeline proposed for West Virginia, Virginia, and North Carolina include Dominion Energy and its influential CEO Tom Farrell, state politicians that are top recipients of Dominion donations, and an army of revolving door lobbyists, including a former EPA official, according to a new report.
The report, from the nonprofit watchdog group Public Accountability Initiative, examines corporate influence, political donations, revolving door lobbyists, regulatory conflicts, and the banks behind the controversial proposed Atlantic Coast Pipeline. It is the third in a series that examines the power relations behind a range of controversial pipeline projects in the United States.
The most powerful backer of the Atlantic Coast Pipeline is Dominion Energy, an energy utilities company that has vast influence within Virginia and is one of the state’s biggest political donors. Dominion CEO Tom Farrell sits on multiple influential boards, has powerful family connections, and is one of the state’s biggest individual political donors.
Some of the most vocal supporters of the pipeline within Virginia politics have been the biggest recipients of Dominion donations. Dominion also has an army of revolving door lobbyists that have pushed politicians and regulatory agencies to support the pipeline. One of these lobbyists includes a former Environmental Protect Agency official, now working for Dominion.
It’s important that the public is aware of the power behind the Atlantic Coast Pipeline, which includes a company that gives millions to state politicians and hires lobbyists with ties to elected officials and regulatory bodies.” – Derek Seidman
“The Atlantic Coast Pipeline has been widely unpopular with residents in Virginia and elsewhere who stand to be impacted by it,” said Derek Seidman, a research analyst at PAI and author of the report. “It’s important that the public is aware of the power behind the Atlantic Coast Pipeline, which includes a company that gives millions to state politicians and hires lobbyists with ties to elected officials and regulatory bodies.”
There are other troubling signs of conflicts of interest and revolving door politics surrounding the Atlantic Coast Pipeline. Key members of Virginia’s Department of Environmental Quality, who must review the pipeline proposal and make recommendations regarding its approval, have accepted gifts from Dominion personally or through their organizations, and one director appears to have previously represented Dominion as an attorney. Regulatory agency staff sit on multiple boards with members of Dominion management. Dominion’s CEO and Senior Vice President of Sustainability also served nearly eight years as Director of the Air Division of the Virginia DEQ.
“It’s worrying that the entities that must approve the Atlantic Coast Pipeline have ties to Dominion,” said Seidman. “With such a controversial project that could put nature and so many people at risk, there really needs to be more transparency and accountability behind regulatory efforts.”
The report also highlights the nearly three dozen banks who are lending to Dominion and Duke Energy, and who may profit off of the pipeline. Eighteen banks are lending to both of the corporations, and all but two of these banks are also helping to fund the controversial Dakota Access Pipeline. Duke Energy, the powerful North Carolina-based energy corporation, is the pipeline’s second biggest stakeholder.
To read the full report, go to: http://public-accountability.org/2017/06/the-power-behind-the-pipelines-atlantic-coast-pipeline/