For immediate release
January 29th, 2014

Although the Vancouver Council has voiced “grave concerns” about the Kinder Morgan pipeline expansion into the Lower Mainland, Vision Vancouver doesn’t seem to have a problem with its own councillors investing in oil companies or other environmentally-unfriendly businesses.

Coun. Raymond Louie’s financial disclosures show that he holds a diverse stock portfolio, which includes shares in the Alberta oil company Crescent Point Energy as well as Rainmaker Mining that is involved in fracking (drilling and injecting fluid deep into the ground at high pressure to fracture rock and release natural gas).

“COPE expects our city’s elected councillors to put their money where their mouth is and not invest in dirty industries that are responsible for climate change,” said Tim Louis, spokesperson for the Coalition of Progressive Electors. “Too often, Vision talks the talk, but doesn’t walk the walk. This has very real implications for Vancouver residents. Just as real estate money corrupts the city’s affordable housing policies, oil and gas money can corrupt environmental policy.”

Last month, Mayor Gregor Robertson said Vancouver is opposed to Kinder Morgan’s plan to twin its Trans Mountain pipeline due to doubts about whether a potential oil spill could be properly responded to, a position that the city will take to the National Energy Board hearings on the proposal next spring.

But Louis asked: “Can we really trust politicians who profit from oil and gas to fight the Kinder Morgan pipeline with every ounce of their being?”

Vision Vancouver city councillor owns oil stock despite party’s green stance