Obama Denies Keystone XL Permit; TransCanada Will Review its Options

abarrelfullabarrelfull wrote on 09 Nov 2015 18:45
Tags: canada n-america pipeline top transcanada usa


TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced it will review all of its options in light of a permit denial for Keystone XL. Those options include filing a new application to receive a Presidential Permit for a cross border crude oil pipeline from Canada to the United States.

"TransCanada and its shippers remain absolutely committed to building this important energy infrastructure project," said Russ Girling, TransCanada's president and chief executive officer. "We will review our options to potentially file a new application for border-crossing authority to ship our customer's crude oil, and will now analyze the stated rationale for the denial."

Girling points out that TransCanada continues to have the support of American and Canadian workers, labor organizations, industry and most of all, the American and Canadian people. He adds with their continued support, the company believes that a pipeline will eventually be built as this is the safest, most economically efficient means of getting crude oil to market.


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