Wednesday, October 1st7.3°C
22738

TransCanada pleased with Keystone XL review, but acknowledges more work ahead

CALGARY - TransCanada says it's pleased with the U.S. State Department's latest report into its controversial Keystone XL oil pipeline proposal, but acknowledges there's some ways to go before it can go ahead with construction.

CEO Russ Girling says the report supports many of TransCanada's arguments in favour of the 830,000-barrel-per-day line when it comes to jobs, environmental protection and the line's impact on the pace of oilsands development.

But he says the process is far from over and expects TransCanada will have to answer a number of questions as an up to 90-day comment period kicks off.

He says about $2 billion has been sunk into the project so far — about half on materials and equipment and half on engineering and regulatory work.

Greg Stringham with the Canadian Association of Petroleum Producers says the State Department's report sets the stage for U.S. President Barack Obama to ultimately say yes to the project.

He says the message in the latest assessment isn't much different from previous ones, but it goes into more detail on how Keystone XL would affect greenhouse gas emissions and the growing role of rail in getting crude to market.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8919-0.0012
Gold1209.30-2.2999
Oil90.17+0.41
Lumber333.20+0.30
Natural Gas4.139+0.018

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 



20759

FEATURED Property
17859801219 Sunnybrae Road, West Kelowna, BC
4 bedrooms 4 baths
$1,595,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


23266