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Obama Supports State Department's Delay of they KeystoneXL Pipeline


TransCanada will have to plan and propose a new route for its Keystone XL, a pipeline poised to span from Canada to refineries on Texas' Gulf Coast. President Obama rejected the proposed route for the pipeline which crossed the Sand Hills region of Nebraska. Many environmentalists and landowners had reason to believe would emit excessive amounts of greenhouse gases. This delay may be harmful to TransCanada, whose shares have already dropped on the Toronto Stock Exchange. Many believe shippers and refiners previously planning on using the Keystone XL pipeline to get to Canadian oil sands crude will now be looking for alternate routes. According to Brian Jorde of Domina Law Group, while some pressure is off the issue for now, Nebraska must still enact pipeline siting laws to protect landowners' interests.

Listed below are some links about President Obama's support of the delay of Keystone XL:

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