Keystone XL construction not a forgone conclusion

By Josh Hall (Twitter: @Vancan19) and The Canadian Press
March 24, 2017 - 12:33pm Updated: March 24, 2017 - 1:46pm

Some analysts say it's not a forgone conclusion that the Keystone XL pipeline will be built just because it's received a long-awaited permit from US President Donald Trump.

Justin Bouchard at Desjardins Capital Markets says the company still faces a long list of permits and approvals before it can start construction, including in Nebraska where a state commission isn't expected to rule on the project until the end of the year.

Bouchard says the project also faces competition from other proposed pipelines as oilsands growth slows.

Meanwhile, Prime Minister Justin Trudeau is very pleased by today's announcement that TransCanada Corporation has received a presidential permit for the Keystone XL pipeline.

He says Canada can be and should be America's partner in securing a stable, reliable source of energy.

Alberta Premier Rachel Notley is also happy about the decision.

"I would like to congratulate TransCanada for the hard work they have put into this approval," she said. “This project is going to support nearly 6,000 jobs during construction and over 400 full-time jobs in Alberta, while also providing access to new and existing US markets."

Environmental groups say they will continue working to stop the project, which would ship Alberta crude to refineries on the US Gulf Coast.


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