Kinder Morgan is providing potential investors with shoddy information, according to a complaint filed with the Alberta Securities Commission by Greenpeace Canada last week.
The formal complaint contends the company’s draft prospectus — a legal document prepared for investors ahead of its massive $1.75 initial public offering (IPO) — failed to properly disclose future Asian oil demand and the financial impacts of climate policy.
It turns out that Kinder Morgan used demand forecasts that assume “business as usual” for oil consumption, which effectively means no serious attempt to keep global warming below two degree celsius.
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