Environmental activists should target CEOs, corporate boards and energy company shareholders — not oil pipeline construction crews.
That’s according to Coast Capital LLC’s James Rasteh, who on the latest edition of Activist Investing Today talks about environmental activism, his campaigns targeting Canadian gold miners and why Europe is “grossly misunderstood” and much more friendly for activism than the U.S.
“I find it really stupid that people go and protest the Keystone XL pipeline by disrupting the work of the construction crew that has absolutely no discretion over the project,” Rasteh said, referring to environmentalists seeking to discourage TC Energy Corp.’s (TRP) effort to build the Canada-U.S. Keystone XL pipeline. “The [person] you should be going after is the CEO … or going after the board members. Go after their shareholders. That’s how you put real pressure on the system.” Read more…..
Chart of the Day
Activist investor Carl Icahn joins ‘Fast Money Halftime Report’ to give comments on the Occidental Petroleum and Anadarko Petroleum deal, the state of the market and his stock holding in Cloudera.