Trump has approved the Keystone XL pipeline, as promised

Posted March 26, 2017

At a White House event attended by TransCanada chief executive officer Russell Girling and Sean McGarvey, president of North America's Building Trades Unions, Mr. Trump heralded what he called "a new era of American energy policy" that he said would lower costs for USA consumers, reduce reliance on foreign oil sources, and create thousands of jobs.

Barrasso in his statement, said permitting the pipeline will create jobs, help grow our economy, and improve America's energy security.

Many observers predicted that a Keystone decision was forthcoming after TransCanada opted to drop a $15 billion NAFTA complaint against the USA earlier this week.

But "the majority of these jobs would be short-term in nature", the State Department told MONEY.

Including work indirectly related to the construction, the number of jobs balloons to 42,100, the State Department estimated. Fuel price-tracker GasBuddy has been watching this issue for several years, with dozens of expert analyst writings covering the subject from both Canadian and US viewpoints.

Environmental groups were protesting the expected project approval.

The line would bring more than 800,000 barrels of heavy crude per day from Alberta to Nebraska.

Robert Kwan at RBC Capital Markets said the presidential permit was widely anticipated and he isn't including Keystone XL in his valuation of TransCanada. Today, Trump also announced the official approval of the Keystone XL pipeline, which will carry Canadian tar sands oil into the United States.

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TransCanada said the USA clearance was a "significant milestone" for the project and that it would continue to engage with key stakeholders and neighbors throughout Nebraska, Montana and South Dakota to obtain the permits and approvals to advance it to construction. Native American members of Anderson's group will argue that members of the Ponca Tribe of Nebraska have an interest because the pipeline could cross an historic route known as the Ponca Trail of Tears, Anderson said. But in January he had leavened his optimism with some doubts because of uncertainty about demand from oil producers. USA oil production is around 9 million barrels per day. On Friday, the Trump administration issued a permit to proceed with construction on one of the pipelines, the Keystone XL, Clifford Krauss reports for theNew York Times. Some analysts think only two of the three pipelines will get built.

When the pipeline was first proposed many environmentally conscious Americans had their concerns.

Secretary of State Rex Tillerson, the former CEO of oil company Exxon Mobil, has recused himself from the decision-making process.

The Liberal government in Ottawa is cheering the pipeline decision.

A pipeline to Gulf refineries will make drilling in Alberta more attractive. "If we can get our oil to tidewater we can get more customers and we get a better price". It's not clear that Keystone XL will eventually lead to lower prices - it could have the reverse effect. That gives TransCanada Corp, the Canadian company that owns the pipeline, the go-ahead to complete the final part of a crude oil route cutting through the length of the continental US.

The Trump administration has issued a permit to go ahead and build the controversial Keystone XL pipeline.

Some of the American Indian activists who fought against the equally as contested Dakota Access Pipeline are shifting their anti-pipeline furor to Keystone and the Trans-Pecos Pipeline, a 148-mile project transporting natural gas through the Big Bend region in Texas to Mexico.