TransCanada Submits New Application To Build Keystone XL Pipeline [View all]
Source: NPR
The company that wants to build the controversial Keystone XL oil pipeline says it has submitted a new permit application to the U.S. State Department.
The TransCanada announcement came just two days after President Trump took executive actions to speed the approval process for both the Keystone XL and Dakota Access Pipelines.
The Keystone XL is an important project for Canada's oil sands companies because it would transport their crude from rural Alberta to Steele City, Neb. From there, existing pipes would move it to the Gulf Coast where crude can fetch higher prices, either from local refineries or on the world market.
On Tuesday, Trump also signed a memorandum directing the commerce secretary to develop a plan to ensure pipelines constructed in the U.S. are built with pipes manufactured domestically.
Read more: http://www.npr.org/sections/thetwo-way/2017/01/26/511892321/transcanada-submits-new-application-to-build-keystone-xl-pipeline
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