Keystone pipeline might not get built after all

The Trump administration gave the company approval in March to start building the pipeline into Montana. He separately approved the Dakota Access pipeline, which would carry oil from South Dakota to Illinois, that same month.
By Jason Spencer | Aug 03, 2017
TransCanada Corp., the company behind the controversial Keystone XL pipeline, is having second thoughts about building it. An executive told investors Friday that the project still needs more funds, more contracts, and additional regulatory permits, and that the company will decide in November or December whether to proceed with it at all.
"Our assessment of these factors will really drive our investment decisions when we get into that November-December time frame," said Paul Miller, president of TransCanada's liquid pipeline business.
TransCanada planned for the pipeline to stretch along a 1,179-mile route from Alberta down through the Canadian-U.S. border into Montana and South Dakota and ending in Nebraska, where existing pipelines could relay it to refineries on the U.S. gulf coast. If completed, it would carry up to 830,000 barrels of oil a day.

The Trump administration gave the company approval in March to start building the pipeline into Montana. He separately approved the Dakota Access pipeline, which would carry oil from South Dakota to Illinois, that same month.

Dakota Access is up and running, but Keystone still needs to clear some roadblocks, according to Miller. He told his investor audience that the company is launching an "open season" to seek out new contracts for the venture, and that it is still seeking approval from Nebraska for its route into that state.

If the company decides this fall to proceed with building, it will then spend six to nine months gathering the construction crews and laying out groundwork, he added. He estimated that the construction would begin after that and last for about two years.

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