Blackstone Drills Deeper as Investors Shift Away from Fossil Fuels

The document highlights the financial losses and legal challenges facing The Blackstone Group due to its extensive fossil fuel portfolio, noting bankruptcies of held companies and significant value drops in its private equity portfolio in early 2020. Despite these risks and community opposition, Blackstone continued to expand its energy holdings in April 2020 through the acquisition of Tallgrass Energy and a stake in Energy Transfer Partners. The text also details environmental violations linked to Blackstone's investments, including a major crude oil leak in the Gulf of Mexico and permit violations involving the Rover Pipeline.

• Blackstone's fossil fuel investments have led to financial instability, evidenced by the 2020 bankruptcies of Gavilan Resources and Energy Alloys, and a 21.6% loss in the value of its private equity portfolio during the first quarter of 2020 due to falling oil prices.
• Despite market volatility and community opposition, Blackstone expanded its energy portfolio in April 2020 by acquiring Tallgrass Energy and taking a significant stake in Energy Transfer Partners, the owner of the Dakota Access Pipeline.
• Blackstone's energy investments are linked to severe environmental incidents, including a 2018 leak of 672,000 gallons of crude oil in the Gulf of Mexico and the release of 2 million gallons of drilling fluid into wetlands via the Rover Pipeline.

APA

Private Equity Stakeholder Project (2020). Blackstone Drills Deeper as Investors Shift Away from Fossil Fuels. https://pestakeholder.org/reports/blackstone-drills-deeper-as-investors-shift-away-from-fossil-fuels/

Chicago

Private Equity Stakeholder Project. Blackstone Drills Deeper as Investors Shift Away from Fossil Fuels. 2020. https://pestakeholder.org/reports/blackstone-drills-deeper-as-investors-shift-away-from-fossil-fuels/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Blackstone Drills Deeper as Investors Shift Away from Fossil Fuels |date=1 October 2020 |url=https://pestakeholder.org/reports/blackstone-drills-deeper-as-investors-shift-away-from-fossil-fuels/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2020blackstone, author = {{Private Equity Stakeholder Project}}, title = {{Blackstone Drills Deeper as Investors Shift Away from Fossil Fuels}}, institution = {Private Equity Stakeholder Project}, year = {2020}, month = oct, url = {https://pestakeholder.org/reports/blackstone-drills-deeper-as-investors-shift-away-from-fossil-fuels/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }