Congressional Republicans are poised Tuesday to send President Obama their legislation forcing approval of the Keystone XL oil pipeline from Canada as a new report indicates oil from the project would stay mostly in the United States.
Just a few weeks ago, a rapid decline in oil prices spurred critics of the Keystone XL pipeline and even the Environmental Protection Agency to argue that approval of the project would worsen greenhouse gas emissions.
But now, oil prices are rising again thanks to turbulence in oil-producing nations and a union strike in the U.S., turning the tables on such criticism and highlighting how quickly the market can affect pipeline politics.
The Gulf Coast line – the southern leg of the Keystone pipeline system – becoming operational helped pipeline operator TransCanada to a bigger profit in the fourth quarter, beating analysts’ expectations, and leading the company to declare an 8 percent increase in its dividend, the Financial Post reports.
TransCanada will reveal a proposal to build the Upland Pipeline, a new 200-mile line to link up with North Dakota’s Bakken Shale, when it reports earnings Friday, a project which will need U.S. government approval, a person with information about the plan told The Wall Street Journal.
OMAHA, Neb. (AP) — TransCanada Corp. will temporarily suspend efforts to seize Nebraska land for its much-delayed Keystone XL oil pipeline after landowners sued, in what is one obstacle the Canadian company still faces in the 1,179-mile project.
A Holt County District judge issued a temporary injunction Thursday, keeping TransCanada from invoking eminent domain along the proposed Keystone XL route in northern Nebraska while a lawsuit by landowners in that county plays out. TransCanada agreed to the order, hoping to get an accelerated trial schedule so that it can quickly resolve the legal disputes.
The White House did not offer any public response Wednesday to final passage of the Keystone XL pipeline approval bill, but an aide said President Barack Obama isn't rethinking his opposition to the measure.
"As we have made clear, the president will veto this bill," said an aide on condition of anonymity.
The bill passed the House late Wednesday, 270-152, clearing it to be sent in the coming days to Obama's desk. His advisers have said he will veto it because it intrudes on the presidential cross-border permit process, which continues at the State Department.
TransCanada officials and Canada's top diplomat to the U.S. on Wednesday each challenged new greenhouse gas concerns surrounding the Keystone XL oil sands pipeline, which were raised last week by the Environmental Protection Agency in comments to the State Department.
TransCanada's president Russ Girling filed a letter with the department questioning EPA's assertion that low oil prices should prompt a fresh estimate of the line's impact on oil sands carbon emissions -- which could further delay a final decision on the project.
Separately, the government of Prime Minister Stephen Harper made public its objections to EPA's stance via a letter to Secretary of State John Kerry from Canada's U.S. ambassador Gary Doer.
"One is left with the conclusion that there has been significant distortion and omission to arrive at EPA's conclusions," Doer wrote in the letter, dated Monday.
The showdown over the Keystone XL oil pipeline between Republicans in Congress and President Barack Obama sees its next act unfold this week.
The GOP-led House plans on Wednesday to pass and send to his desk a bill approved by the Senate to authorize the $8 billion line from Canada, according to a schedule issued late Friday by House Majority Leader Kevin McCarthy, R-Calif.
Dismissing a story in Canadian media that a decision on the Keystone XL pipeline is imminent, White House spokesman Josh Earnest said the State Department is still reviewing the proposed project, The Hill reports.
Environmentalists plan to protest the Obama administration approval of drilling in Arctic waters when the president visits Alaska, while the state’s governor and others plan to push for more oil and gas production, National Journal reports.
Despite New Orleans’ recovery from Hurricane Katrina – hailed by President Obama in a visit Thursday – the federal government is still falling short when it comes to improving flood defenses, according to an analysis from the Georgetown Climate Center, E&E reports.
Oil was rising again Friday after prices a day earlier racked up the biggest single day increase since March, 2009. U.S. benchmark crude for October delivery was up $1.56 to $44.12 a barrel on the Nymex, while in London Brent jumped $1.18 to $48.74, The Wall Street Journal reports.
Seeo – a California-based developer of electric car batteries that holds a licence for patents from the Lawrence Berkeley National Laboratory – has been acquired by international car parts company Robert Bosch, Reuters reports.
An analysis prepared for the New England Coalition for Affordable Energy -– which was funded by the American Petroleum Institute and America’s Natural Gas Alliance -– found that New England could end up paying $5.4 billion more for energy if the region fails to upgrade its infrastructure, the New Haven Register reports.
Hercules Offshore didn’t appeal a move by Nasdaq to have its stock deslisted from the exchange in the wake of its Chapter 11 filing, so the company stock – trading for 7 cents a share Thursday afternoon – is now handled in the over-the-counter market, FuelFix reports.
In the heart of Colorado’s drilling boom, Weld County saw the highest rate of job growth in the country even though the state adopted air pollution rules seen as a precursor to those under consideration at the Environmental Protection Agency, E&E reports.