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Court: Construction can resume on small stretch of pipeline
Stock Market News |
2016/10/11 22:10
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A federal appeals court on Sunday opened the door for construction to resume on a small stretch of the four-state Dakota Access pipeline while it considers an appeal by the Standing Rock Sioux Tribe.
The ruling removed a temporary injunction that halted work on the project.
The tribe had asked the U.S Court of Appeals for the District of Columbia Circuit to continue work stoppage on the pipeline within 20 miles of Lake Oahe in North Dakota. The court earlier ordered work to stop while it considered the motion.
In a statement, Standing Rock Sioux Tribe Chairman Dave Archambault II said that the tribe "is not backing down from this fight."
"We will not rest until our lands, people, waters and sacred places are permanently protected from this destructive pipeline," Archambault said.
Owned by Dallas-based Energy Transfer Partners, the $3.8 billion, 1,172-mile project would carry nearly a half-million barrels of crude oil daily from North Dakota's oil fields through South Dakota and Iowa to an existing pipeline in Patoka, Illinois, where shippers can access Midwest and Gulf Coast markets.
The company did not immediately return an email Sunday seeking comment on the court's decision.
The pipeline passes near Standing Rock Sioux reservation land that straddles the North Dakota-South Dakota border. The tribe's protest encampment near the confluence of the Missouri and Cannonball rivers has swelled to thousands at times as demonstrators from around the country joined their cause.
Tribal and state officials also are at odds over whether sacred sites were destroyed while digging the pipeline corridor. The state archaeologist has said an inspection found no sign that the area contained human remains or cultural artifacts.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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