Overall first quarter profit for TransCanada Corp. dropped 8 percent but adjusted earnings gained and revenue was up on higher pipeline demand during the bitterly cold winter, The Wall Street Journal reports.
This isn't the first time uncertainty about the route of the Keystone XL pipeline through Nebraska has led the Obama administration to delay in a permitting decision.
President Barack Obama cited the undetermined final alignment through the state when he denied the project in early 2012. That was the same reason State Department officials on Friday gave for extending a national interest determination review of the revised route, a move that likely puts off a decision until 2015 -- until after the mid-term elections.
The decision was scored as blatantly political by project proponents over the weekend, criticism that will continue for months to come. Yet it also opens the administration to renewed public pressure from opponents to reject the $5.4 billion TransCanada line once and for all.
Obama administration officials on Friday declined to say when they might approve or deny construction of the Keystone XL pipeline from Canada, following the announcement by the State Department of a new delay in completing its review process.
Senior department officials, who briefed reporters on condition of anonymity, denied trying to slow the $5.4 billion oil sands crude pipeline project past the November elections, as critics charged after the announcement.
NELIGH, Neb. (AP) — Opponents of a proposed pipeline that would carry oil from Canada south to the Gulf Coast have stamped a massive message of resistance into a Nebraska field that is in the project's path.
The artwork, which covers 80 acres and was done last week, reads "Heartland#NoKXL." It is the latest protest environmentalists and landowners have employed against TransCanada's proposed Keystone XL pipeline.
Critics of the pipeline want President Barack Obama to reject the project because they fear it could contaminate groundwater and contribute to pollution.
JUNEAU, Alaska (AP) — Following an intensive amendment process that began last week, the House Resources Committee on Wednesday passed out its rewrite of a bill aimed at advancing a major liquefied natural gas project.
The committee considered dozens of proposed amendments and debated many of them at length — even some that were ultimately withdrawn — over the course of several days.
Co-chair Dan Saddler, R-Eagle River, said he thought Alaskans could take comfort that the committee did "good, hard work." Rep. Peggy Wilson, R-Wrangell, said she thought the bill was fair to all concerned.
Some lawmakers in Alaska's legislature are expressing dissatisfaction with the role pipeline company TransCanada would play in the proposal to build a major natural gas facility in the state, E&E reports.
Keystone XL pipeline advocates hold press conference to highlight national security arguments. Sen. John Hoeven, Rep. Lee Terry, TransCanada Vice President Alex Poubaix, Canadian Ambassador Gary Doer, API President Jack Gerard, others to speak.
The public comment period on the State Department's Keystone XL pipeline review ended on Friday, with opponents sending more than 2 million comments opposing the project, doubling the comments in support of the pipeline, The Washington Post reports.
TransCanada chief Russ Girling told National Journal at the CERAWeek conference that he's more confident of getting approval of the Keystone XL pipeline, arguing that the State Department's environmental review answered all major questions about the project.
Seeking to fill two key Department of Transportation posts that have been vacant for months, President Barack Obama has nominated Marie Therese Dominguez to become the head of the Pipeline and Hazardous Materials Safety Administration and Sarah Feinberg to the top job at the Federal Railroad Administration, The Hill reports.
The Hill reports that the House has scheduled votes for next month on proposals to let states opt out of the Clean Power Plan, to weaken the proposed rule on disposal of coal ash at power plants, and to reform toxic chemical safety laws.
A pause in dollar gains and a drop in the number of rigs drilling for oil in the U.S. sent prices skyrocketing Friday. U.S. benchmark crude leaped 4.5 percent, or $2.62, to settle at $60.30 a barrel on the Nymex, while in London, Brent soared $2.98 - 4.8 percent - to $65.56, Reuters reports.
Illinois Attorney General Lisa Madigan and the advocacy group Public Citizen have filed a complaint with the Federal Energy Regulatory Commission charging that Dynegy Inc. manipulated electricity markets, the St. Louis Post-Dispatch reports.
The Energy Information Administration is struggling to make accurate projections in an era of volatile energy prices, surging renewable energy, and global warming, according to U.S. News & World Report.
The goal that Kansas utilities generate 20 percent of their electricity from renewable sources is now nonbinding rather than a mandate, as Gov. Sam Brownback has signed compromise energy legislation hammered out between the wind industry and its critics, The Associated Press reports.
The insistence that oil companies be able to drill relief wells in the event of an emergency is a major sticking point when it comes to the Obama administration plan to allow Arctic drilling, according to comments filed by groups including the American Petroleum Institute, FuelFix reports.