The multibillion-dollar Keystone XL pipeline would bring more than 800,000 barrels per day of heavy crude from Canada's oil sands in Alberta into Nebraska
Trump gives Keystone XL pipeline the final, official go-ahead
This may be a day of endless uncertainty when it comes to the fate of ObamaCare, but we have finally achieved certainty on one thing: The Keystone XL pipeline is going to be built. This morning, the Trump Administration granted the final permit for the project to go ahead:
The United States has issued a presidential permit for TransCanada Corp's Keystone XL oil pipeline, the Canadian company said on Friday, ending a years-long battle between environmentalists and the industry over whether Washington should approve it
U.S. President Donald Trump will announce the permit alongside TransCanada (TRP.TO) Chief Executive Officer Russell Girling at the White House later Friday, according to a senior administration official. White House spokesman Sean # said a Keystone XL announcement would come at 10:15 a.m. EDT.
TransCanada's U.S.-listed shares (TRP.N) jumped 3.7 percent to $49.50 in premarket trading.
The pipeline linking Canadian oil sands to U.S. refiners had been blocked for years by former President Barack Obama, who said it would do nothing to reduce fuel prices for U.S. motorists and contribute to emissions linked to global warming. Environmental groups have forcefully opposed the pipeline.
Trump, however, campaigned on a promise to approve it, saying it would create thousands of jobs and help the oil industry, and signed an executive order soon after taking office in January to advance the project.
The multibillion-dollar Keystone XL pipeline would bring more than 800,000 barrels per day of heavy crude from Canada's oil sands in Alberta into Nebraska, linking to an existing pipeline network feeding U.S. refineries and ports along the Gulf of Mexico.
Greenies will not give up, of course. They'll try to get the states along the route to deny permits, but they're not likely to have much success given the redness of the states we're talking about the economic benefits they'll get from the pipeline. And they'll try lawsuits, where it's possible they could achieve some delays if they're good enough at judge-shopping.
But liberal judges can't stop this thing forever. Neil Gorsuch is going to be confirmed, and the restored 5-4 majority on the Supreme Court is going to start toss out liberal judges' political rulings against orders Trump has every legal authority to issue.
Anyway, this is important for the country because energy-related infrastructure is a far more important matter - and a much bigger problem - than most people realize. It's one thing to drill, drill, drill . . . and we should. But once you get the oil out of the ground, you still have to be able to transport it, refine it and deliver it to market. Decades of liberal regulations have made it increasingly difficult to do that, which not only adds to the price of gas at the pump but also makes it harder for U.S. oil producers to be players on the world market.
The Keystone XL pipeline is a gigantic step toward correcting these problems, although there need to be many more. Keystone XL was one of the reasons conservative voters wary of Trump decided it was worth the risk to elect him anyway. Today he delivered on their hope.
