Tag Archives: Keystone XL

VA529 responds to WWALS request to divest from Spectra Energy

It seems to miss one of the main points, but thanks to Mary G. Morris, CEO, VA529, for a thoughtful reply to the WWALS request to divest from Spectra Energy.

ESG (Environmental, Social and Governance) It seems to me that investing in a highly risky pipeline company such as Spectra Energy would be “contrary to [VA529’s] overall investment goals and mission”, at least if those goals include reliable investments for college, and not stranded investments.

It might be worth looking into the Parnassus Core Equity Fund she mentions. Perhaps college savers who want reliable investments would want to consider moving their investments there.

Suwannee Riverkeeper may continue correspondence with VA529.

Meanwhile, VA529 has a handy VA529 contact form or you can call or write: Continue reading →

College mutual fund VA529 owns Sabal Trail stranded assets

Update 2016-12-08: Letter sent to VA529 board: PDF.

Do the parents and grandparents who bought Virginia529 funds as safe investments for future college know VA529 is the biggest mutual fund investor in risky investments Spectra Energy of Sabal Trail and Enbridge of the Dakota Access Pipeline? Maybe you’d like to point that out to Mary G. Morris, the Chief Executive Officer of Virginia529 College Savings Plan, the biggest mutual fund investor in both Spectra Energy and in Enbridge, which is buying Spectra.

Sabal Trail through Suwannee River State Park

There’s a handy VA529 contact form or you can call or write: Continue reading →

Sabal Trail risks drinking water –Gordon Rogers in Georgia Sierran

Apparently fracked methane is Sierra Club Georgia’s next fight now that Keystone XL is dead, since almost its entire January/February/March issue of Georgia Sierran is about opposing natural gas: PDF.

See for example “Why Natural Gas Is Not a Climate Solution”, by Joshua Hanthorn. And “LNG Puts Savannah at Risk”, by Karen Grainey and Stacey Kronquest. Karen is chair of the Coastal Group of Sierra Club Georgia. Pretty much everything in that article also applies to Jacksonville, and quite likely to Palm Beach and other locations in Florida very soon.

Mentioning WWALS is “Pipeline in Southwest Georgia and Central Florida Risks Drinking Water,” by Gordon Rogers, Flint Riverkeeper,

001 The Sabal Pipeline, a joint venture of Spectra Energy, Duke Energy, and NextEra Energy, poses threats to Georgia and Florida communities on multiple fronts. For southwest Georgia and north Florida residents it’s all risks and no rewards. However, so far federal and state authorities have thus far been unmoved by arguments against it.

During the Federal Energy Regulatory Commission (FERC) public comment period, the agency received more than 1,000 written comments, mostly opposing the project, including resolutions against it from seven counties in Georgia and Florida, and three of the largest cities in its path (Albany, Moultrie and Valdosta).

The article talks about FERC’s FEIS, EPA, GA-EPD, and other matters, before turning to WWALS and Florida. Continue reading →