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Pipeline protesters ordered to leave

Tuesday, November 29, 2016 - 01:29

North Dakota's governor ordered pipeline protesters to leave, citing hazards posed by harsh weather as a blizzard bore down on the area. Bobbi Rebell reports.

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Oil pipeline protesters in North Dakota facing new pressures to stop their fight. The governor issuing an emergency evacuation order and threatening to block supplies including food and building materials from reaching protesters at a camp near the construction site of the $3.8 billion Dakota Access Pipeline project. Thousands of Native American and environmental activists have protested plans to route the pipeline beneath Lake Oahe near the Standing Rock Sioux reservation. They say the project threatens water resources and sacred Native American sites. With prices of oil slumping on OPEC's inability to cut production, and global oversupply, there is no urgency in completing the North Dakota pipeline, says Mizuho's Bob Yawger. (SOUNDBITE) BOB YAWGER, DIRECTOR, FUTURES DIVISION, MIZUHO AMERICAS, (ENGLISH) SAYING: "The energy players are not in that big of a hurry because the economics are not necessarily there right now. My expertise is the economic side of the equation. And as long as that Brent WTI spreads is pretty tight, it's not going to be something that has to get done right away." The 1,172-mile pipeline project is mostly complete except for a segment that is supposed to run under Lake Oahe. Oil producers argue it would carry Bakken shale oil more cheaply and safely from North Dakota to Illinois en route to U.S. Gulf Coast refineries.

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Pipeline protesters ordered to leave

Tuesday, November 29, 2016 - 01:29