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Trump to approve Keystone XL?

Published by
World Pipelines,


Donald Trump said Thursday he’d approve the Keystone XL oil pipeline expansion project if the US could get a 'better deal” by receiving “a piece of the profits.”

Speaking to reporters before addressing a petroleum conference in Bismarck, N.D., Trump said he’d “absolutely” approve the proposed Canada-to-US pipeline - which was rejected by the Obama administration in November 2015. In both the press conference and speech, the Republican White House contender said the US deserves profits from the pipeline, “because we’re making it happen.” He didn’t elaborate on how such profits would be calculated or collected.

The Keystone XL pipeline would have run from Canada’s oil sands to Steele City, Neb., connecting with existing pipelines to refineries on the US Gulf Coast. President Barack Obama said the pipeline wouldn’t have served US interests. TransCanada Corp., which had requested a permit to build the pipeline, later said it would sue. North Dakota, where Trump spoke, is a major energy-producing state that has suffered as the energy industry has been hit hard by low oil prices.

Yet, oil has come back in recent months, with July West Texas Intermediate crude touching a high of US$50.21/bbl on Thursday. It settled at US$49.48, down 0.2% for the session.

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/project-news/27062016/trump-to-approve-keystone-xl/


 

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