Sunday, May 24th16.3°C
26402
26319

Keystone XL as price for a U.S. debt extension? Republicans appear to back away

WASHINGTON - U.S. Republicans have apparently considered — and rejected — the idea of using a high-stakes fiscal showdown to force the construction of the Keystone XL pipeline.

There had been reports that Republicans in Congress contemplated demanding approval for the pipeline in exchange for their votes to raise the U.S. debt ceiling in the coming weeks — but that they couldn't agree on it, or any other, debt strategy.

The top Republican in the House of Representatives didn't deny those reports today and, in fact, appeared to joke about the fact that his caucus is too divided to come up with a cohesive strategy.

In response to a question about making Keystone his party's bottom line, House Speaker John Boehner quipped: "You know, Mother Theresa is a saint now but... if the Congress wanted to make her a saint and attach that to the debt ceiling, we probably couldn't get (unanimity with) 218 Republican votes. Sorry."

The quip drew laughs, but it raised a pair of serious points.

For starters, there's the threat of global economic chaos if the U.S. defaulted on its debt payments. And there are also deep divisions in the Republican party, between the more moderate brass and conservative grassroots, over how aggressive it should be in the debt fight.

Boehner and other Republican leaders have shown little desire to become embroiled in yet another high-stakes showdown, and there's talk the party might simply allow for a so-called "clean" debt extension without demanding anything in return.

Some had suggested Keystone XL could be an easy issue for all Republicans to rally around, and extract a political gain during the debt fight. However, Boehner's remarks today suggest not even that would unite his caucus.

The Obama administration has insisted the pipeline regulatory process is apolitical, and has urged its foes not to interfere.

A decision on the Alberta-to-Texas pipeline is at least three months away, but there's no fixed deadline for a decision.

The Canadian Press


Read more Business News

25985


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1205.70+1.30
Oil57.45-1.98
Lumber273.30+3.70
Natural Gas2.885-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26416

FEATURED Property
22983473482 Old Okanagan Highway
2 bedrooms 2 baths
$388,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_





26418


Member of BC Press Council


25690