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Trump Ascendancy Triggers Potential Keystone XL Comeback

TransCanada Corp. vowed Wednesday to try reviving the hotly contested Keystone XL oil export pipeline when U.S. President-elect Donald Trump moves into the White House.

A brief statement circulated by the company described it as still “fully committed to building Keystone XL” despite its rejection by outgoing President Barack Obama after marathon battles with environmentalists and landowners along the route (see Shale Daily, Nov. 9; Jan. 19, 2012).

The effort responds to election campaign statements by Trump that he would be prepared to reconsider the proposal for an express line from Alberta refineries along the Texas and Louisiana coast of the Gulf of Mexico.

But Trump made his support conditional on U.S. interests being conceded a profitable share in the US$7 billion project to add 521,000 b/d to Canadian oil exports (see Daily GPI, May 26). TransCanada announced no definite steps or schedule. “We are evaluating ways to engage the new administrations on the benefits, the jobs and the tax revenues this project brings,” the company said.

TransCanada has also filed an international lawsuit against Obama’s veto, seeking US$15 billion in compensation and damages by alleging that the rejection was a case of green politics overturning favorable results of the U.S. State Department’s project review.

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