Obama to Kill Keystone Pipeline

|

  • Send by emailEmail
  • Comments
  • Printer-friendly versionPrint
Keystone pipeline | BCBusiness
Image by: shannonpatrick17
TransCanada's Keystone XL pipeline will get the axe from the White House as early as Wednesday afternoon.

As reports confirm the White House will reject TransCanada's Keystone pipeline, the world awaits the company's next move.

U.S. President Obama kept his word.

The Washington Post broke the news this morning that the White House will axe TransCanada's embattled Keystone pipeline plan as early as this afternoon.

Last month, amid the Congressional shuffle around extending the payroll tax holiday for American workers, Congress inserted a provision in the bill forced President Obama to make a firm decision on the pipeline permit by Feb. 21.

Late last year, the White House released a statement saying the president wanted to delay the decision until after the federal election in November, which would afford enough time to study the pipeline's route through sensitive environments in Nebaska. Today's announcement will most likely have that intended effect.

While this is a heavy blow, all is not lost for TransCanada. The company can reapply for the necessary permit once it develops an alternate route around Nebraska's Sandhills.

The Keystone XL pipeline is a proposed project that would transport crude oil from Alberta's oilsands across six states to refineries in Texas.



Finance & Investing | Politics & Policy | Import & Export

@BCBusiness Twitter

bcbusiness
bcbusiness Hyundai launches Canada’s first hydrogen fuel cell electric vehicle: http://t.co/eu0RNH9PI3 @HyundaiCanada #cdntech http://t.co/3Tb0XCT5IF
bcbusiness
bcbusiness How the self-governed Ucluelet Nation is reinventing #Tofino tourism on its own terms: http://t.co/vNryktQiOC http://t.co/OW0zmVyb6S
bcbusiness
bcbusiness RT @warrenbrazier: If you're interested in the BC pipeline debate, be sure to check out the December issue of @bcbusiness . Excellent cover…