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 Is it time to end tipping? Our critical look at the North American business model: http://t.co/2d06135DL7 http://t.co/MXNZ94EwW9
bcbusiness
bcbusiness ICYMI: 25 gorgeous photos from this year's Dîner en Blanc in #Vancouver: http://t.co/iWyY7mhHGX http://t.co/BXXje9haI8
bcbusiness
bcbusiness Know any young, successful innovators (who live and work in B.C.)? Nominate them for our 30 Under 30 list: http://t.co/v7vpPliIGD