[Vision2020] TransCanada Requests Suspension of U.S. Permit for Keystone XL Pipeline

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Courtesy of the Wall Street Journal at:

http://www.wsj.com/articles/transcanada-requests-suspension-of-u-s-permit-for-keystone-xl-pipeline-1446507279

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TransCanada Requests Suspension of U.S. Permit for Keystone XL Pipeline
The company behind the Keystone XL pipeline on Monday asked the U.S. government to suspend its permit application, throwing the politically fraught project into an indefinite state of limbo, beyond the 2016 U.S. elections.

Calgary, Alberta-based TransCanada Corp. sent a letter to the State Department, which reviews cross-border pipelines, to suspend its application while the company goes through a state review process in Nebraska it had previously resisted. The move comes in the face of an expected rejection by the Obama administration and low oil prices that are sapping business interests in Canada’s oil reserves.

“In order to allow time for certainty regarding the Nebraska route, TransCanada requests that the State Department pause in its review of the Presidential Permit application for Keystone XL,” the company said in the suspension request reviewed by The Wall Street Journal. “This will allow a decision on the Permit to be made later based on certainty with respect to the route of the pipeline.”

The announcement marks a turning point for the company’s effort to get the pipeline approved. Its executives have repeatedly said over the years they wouldn’t back down from seeking a permit in the face of political or economic uncertainty. Low oil prices have called into question to what extent oil companies would need the pipeline and President Barack Obama has repeatedly said he doubted the pipeline would benefit the U.S.

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Tom Hansen
Moscow, Idaho
 
"This is the 'Mouse that Roared,' 'David and Goliath' and 'Avatar' all rolled into one.  We must remember that the thousands of citizens involved in this effort to protect their personal and family safety, their businesses and their lifestyles are confronting some of the largest international corporations in the world."

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