Trump Administration Grants Permit to TransCanada for Keystone Pipeline
March 24 2017 - 8:34AM
Dow Jones News
By Anne Steele
The Trump administration has signed a presidential permit for
TransCanada Corp. to build Keystone XL, bringing the mammoth oil
pipeline a step closer to fruition more than a year after former
President Barack Obama blocked its construction.
In addition to resistance from environmental groups, the
Keystone project faces state-level legal challenges in Nebraska and
South Dakota that could cause further delays. If completed as
planned, it would send up to 830,000 barrels of oil a day, mostly
from Canada's oil sands, to Steele City, Neb., where it would link
to existing pipelines to Gulf Coast refineries.
TransCanada said Friday it will continue to engage key
stakeholders and neighbors along the pipeline's planned route
throughout Nebraska, Montana and South Dakota to obtain the
necessary permits and approvals.
Environmentalists have urged the rejection of the pipeline as
part of a commitment to fighting climate change, while fossil-fuel
companies argue such projects are essential for energy security and
the economy.
"This is a significant milestone for the Keystone XL project,"
TransCanada Chief Executive Russ Girling said in a press release.
"We greatly appreciate President (Donald) Trump's administration
for reviewing and approving this important initiative, and we look
forward to working with them as we continue to invest in and
strengthen North America's energy infrastructure."
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
March 24, 2017 08:19 ET (12:19 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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