Why Considering the Environmental Impact of Keystone XL is Irrelevant

Last week President Obama unveiled a new plan to combat climate change in a speech at Georgetown University. While there is generally broad consensus that his comments further threaten the already battered US coal industry, his comments on TransCanada’s (TSX: TRP, NYSE: TRP) Keystone XL pipeline project had pundits guessing at his meaning. Here is what the President said in his speech about Keystone XL:

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Pipeline to pass locally

TransCanada Pipelines made a stop in the Fort last week to promote its Grand Rapids Pipeline Project, which passes through Fort Saskatchewan — sort of.

Presenting to council at its Feb. 26 meeting, Dave Pragnell, manager of engineering with TransCanada, explained that the Grand Rapids project would run from north-west of Fort McMurray to the Edmonton area, transporting bitumen through around 500 kilometres of two parallel pipes.

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TransCanada encouraged by eastern pipeline proposal

CALGARY — TransCanada Corp. said Tuesday it aims to file a regulatory application for its eastbound pipeline proposal by year-end following “encouraging” feedback from potential customers.

The Calgary-based pipeline (TSX:TRP) giant also acknowledged that a long-awaited State Department decision on its controversial Keystone XL oil pipeline is unlikely to come during the first quarter of this year.

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Report cites minimal impact on Nebraska environment from revised Keystone XL route

EDMONTON – The rerouted northern leg of the Keystone XL pipeline between Hardisty and Steele City, Neb.,  moved back into the spotlight Friday after a report from the state’s department of environmental quality said the project would have “minimal environmental impact.”

Republican Gov. Dave Heineman said he would “carefully review” the 2,000-page report, make a decision within 30 days and send his recommendation to the U.S. State Department, which is expected to issue its final report this spring. The State Department recommendation will go to President Barack Obama, who rejected an earlier iteration of the 3,460-kilometre TransCanada Corp. (TSX:TRP)  pipeline from Alberta to Oklahoma about a year ago.

Read more: http://tinyurl.com/ag26ovq