Tag Archives: VA529

On Earth Day, FERC approved Sabal Trail Albany, GA, and Dunnellon, FL, compressor stations 2020-04-22

FOR IMMEDIATE RELEASE

FERC on Earth Day rubberstamped Sabal Trail pipeline compressor stations in Georgia virus hotspot and Florida location that already leaked

Hahira, Georgia, April 23, 2020 — “What better way to say they don’t care, than to do this on Earth Day?” said Suwannee Riverkeeper John S. Quarterman, “The Federal Energy Regulatory Commission (FERC) broke out its rubberstamp during a virus pandemic, ignoring its own process, as well as all the comments and our motion against, to approve turning on two compressor stations, including one in Albany, Georgia, which is the Georgia city worst-affected by the virus, and another at a site near Dunnellon, Florida, which already leaked multiple times even before construction started.”

[Project Location Map]
Project Location Map

Methane from fracking is not more important to push through a Sabal Trail pipeline than the health of local people or even Sabal Trail’s own workers.

Compressor Station from FL 200
Photo: WCJB, of Sabal Trail Dunnellon Compressor Station after leak, 2017-08-11.

Quarterman added, “With the price of oil negative and “natural” gas down 40%, it’s time to ask investors if they want to go down with the fossil fuel ship of fools and time to ask politicians if they want this to be their legacy.”

Only four weeks before the FERC approval letter, FERC opened a comment period on a request by Sabal Trail for six more months to finish these same facilities, in which Sabal Trail cited the virus pandemic as a reason. Contradicting its own request, and during that two-week period, Sabal Trail asked FERC to go ahead and approve turning on both compressor stations, which must involve Sabal Trail workers working during pandemic conditions.

FERC did not even mention that WWALS Watershed Coalition (WWALS) had moved to deny, nor any of the numerous other comments against turning on the compressor stations.

For that comment period, FERC required organizations to file again to be Intervenors, and only organizations that were already Intervenors on the process of the underlying FERC docket could do that. The only one to do that was Suwannee Riverkeeper for WWALS (see PDF). WWALS also filed a motion to halt Sabal Trail’s Phase II (which is mostly these two compressor stations), to deny Sabal Trail’s request to turn the compressor stations on, and to invoke penalties for already being two years late (see PDF). WWALS reasons to deny included repeated previous leaks at the Dunnellon Compressor Station of hazardous Mercaptan odorant, as well as leaks of methane at the Hildreth Compressor Station in Suwannee County, Florida, plus sinkholes at the Flint River near the Albany Compressor Station, the virus pandemic, and Sabal Trail gas going to private profit through Liquid Natural Gas (LNG) export, making a mockery of local landowners having to give up easements through federal eminent domain supposedly for the public good of the United States.

WWALS also noted that the only “justification” for Sabal Trail was alleged “market need,” and there was none any more, since oil and gas prices had dropped through the floor. Since then, oil prices actually went negative for the first time in history, and natural gas prices are down more than 40% from only six months ago.

FERC did not address the concerns raised by Our Santa Fe River (OSFR) about leaks, breach of commitment, and endangering commmunities Continue reading

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