Keystone clears another hurdle on the road to construction TransCanada’s (ticker: TRP) Keystone XL pipeline received Senate approval yesterday in a bipartisan 62-to-36 vote in favor of allowing the pipeline. Nine Democrats joined 53 Republicans to pass the measure, but the 62 votes will not be enough to override a presidential veto should President Obama decide not to pass the
Two new pipelines opened last week allowing more Canadian crude to reach refineries in Texas Canadian Premier for Alberta, Jim Prentice, and the Canadian minister for natural resources, Greg Rickford, were both in Texas last Friday celebrating the opening of two new pipelines transporting crude oil from Canada to the Gulf of Mexico. The two pipelines, the Seaway pipeline and
House greenlights Keystone, Nebraska Supreme Court lets legislation allowing pipeline stand With the House of Representatives passing legislation on TransCanada’s (ticker: TRP) Keystone XL pipeline for the tenth time in three years, and the Nebraska Supreme Court removing legal roadblocks to the pipeline, the stage is now set for a vote on a similar Keystone bill in the Senate. The measure passed with
As the new Congress comes to session, one of the first items on the agenda is the Keystone XL Pipeline Obama Veto to Follow Passage: White House Incoming Energy and Commerce Committee member Rep. Kevin Cramer (R-ND) has authored legislation to authorize construction of the Keystone XL Pipeline that will go before the U.S. House of Representatives Friday for a
Sen. Heidi Heitkamp (D-ND), speaking about the Keystone XL pipeline’s failure to pass the Senate by one vote last night, says a lawsuit in Nebraska is likely to blame. “We could have probably picked up a couple more [votes] had that process been completed,” Sen. Heitkamp said about the lawsuit to CNBC. “We know this is going to pass next
While TransCanada’s $8 billion project hangs in the balance, Canadian oil is already moving south The landslide Republican victory in this month’s midterm elections will prompt changes in the business of politics and in the U.S. economy, but will they include the Keystone XL pipeline? The House of Representatives approved the Keystone pipeline earlier today by a count of 252-161, with
On June 17, the Canadian federal government approved the pipeline portion of Enbridge Incorporated’s (ticker: ENB) Northern Gateway Project, a $6.1 billion crude oil and condensate pipeline and marine terminal that was proposed in 2010. Canada’s petroleum producers are eager to find an alternative to the nearly six-year delayed approval of the Keystone XL project. At the Canadian American Business’ conference on June
20,000 U.S. Jobs, $7B Project Stuck in Limbo As of July 9, the Keystone Project has been studied for 2,119 days, according to the House Energy and Commerce Committee. No other pipeline has taken so long to gain approval. On July 8, 44 diverse organizations, from businesses to labor unions, sent a letter supporting the speedy approval of TransCanada’s Keystone
In an industry report released July 8, 2013, Raymond James & Associates asked the question: ‘When will the Keystone XL Pipeline become a necessity?’ According to analysts, Marshall Adkins & Cory Garcia, additional pipeline capacity out of Western Canada will be eventually needed if Canadian oil sands growth continues as projected. “While Keystone isn’t needed today or arguably even in
CRUDE OIL INVENTORY/’000 bbls (Week Ended 4/3/13) Current: 395,284 Actual Build/(Withdrawal): 6,696 Economist Average Estimate: 1,018 Previous: 388,588 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Bakken, Three Forks Has More Oil Than 2008 Estimate: USGS – Bloomberg Oil resources in shale formations of North Dakota, Montana and nearby states are 7.4 billion barrels,
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