Statement from Minnesotans for Line 3 About the IPC Plan for Duluth

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Statement from Minnesotans for Line 3 About the IPC Plan for Duluth
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On Saturday, representatives of the Indigenous Pipeline Council, a Native-led energy solutions company, gave a presentation to members of the Duluth business and political community. Some supporters of Minnesotans for Line 3 were in attendance.

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The IPC described their plan to reroute the last 19 miles of the Line 3 Replacement Project through Duluth instead of Wisconsin, with a brand-new terminal to be sited on the waterfront. We agree with the IPC that the Line 3 replacement must happen, and we respect their desire for all residents to equally share in its benefits as well as its risks. However, we do not support the IPC plan as it currently stands. This plan would negatively affect tens of thousands of Duluthians, impact real-estate values citywide, threaten the greater metro area with groundwater contamination, and permanently change our city for the worse. This is simply not the pipeline that Duluthians deserve.

Securing access to reliable energy should be all about quality of life. Thrusting a pipeline through backyards, churchyards, and other sites sacred to Duluth residents goes contrary to that value. We are confident that the relevant regulatory bodies will block the IPC’s terminal segment before it progresses further, and will reinstate the original Line 3 Replacement plan, which had nothing wrong with it.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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