TORONTO (AP) — Pipeline company TransCanada said Thursday it will proceed with a $12 billion plan to pipe 1.1 million barrels of oil per day from Western Canada to the country's Atlantic coast — moving enough oil to replace all imports in Eastern Canada and still have enough left for exporting crude overseas.
Some climate policy experts contend President Obama is leaning toward approving the Keystone XL pipeline, suggesting his comments downplaying the economic benefits of the project were a challenge to TransCanada to take more action on greenhouse gas emissions, Politico reports.
Congressional Republicans criticized President Obama for comments published in an interview that appeared to downplay the potential economic benefits of approving the Keystone XL pipeline, The Hill reports.
A report conducted by the Natural Resources Defense Council said approval of the Keystone XL pipeline would increase carbon pollution, contending the project would boost high-emissions oil sands production, FuelFix reports.
Supporters of the Keystone XL pipeline say Venezuela's offer of asylum to NSA leaker Edward Snowden boosts the case for the project's approval, as increased imports of Canadian oil would limit Venezuela's market, The Hill reports.
The problems in Ukraine are unlikely to trigger faster action by the Obama administration on natural gas exports, a White House spokesman appeared to indicate Friday, as he noted that supplies in Europe are at higher-than-normal levels because of the mild winter there, according to Reuters.
Public Service Enterprise Group plans to spend $12 billion over five years on capital projects to improve reliability, hoping to increase the earnings of its utility business, The Wall Street Journal reports.
Weather-related rail bottlenecks in Chicago are causing higher prices and lower supplies of ethanol on the East coast, while Midwest plants are cutting production because of a shortage of rail cars, an industry representative told a U.S. Surface Transportation Board panel, Platts reports.
Investors will challenge corporations during the upcoming proxy season to make more environmental commitments, according to nonprofit Ceres, which has compiled a list of resolutions up for votes, E&E reports.
Saying President Obama's proposed "climate resilience fund" will help communities prepare better for severe weather might win it bipartisan support, according to Sen. Brian Schatz, D-Hawaii, National Journal reports.