TransCanada: will try again, hope for pipeline in 2014

From TransCanada’s press release:

January 18, 2012 15:59 ET

TransCanada Will Re-Apply for a Keystone XL Permit

 

 

CALGARY, ALBERTA–(Marketwire – Jan. 18, 2012) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today it has received the U.S. Department of State’s decision that the Presidential Permit for Keystone XL has been denied.

“This outcome is one of the scenarios we anticipated. While we are disappointed, TransCanada remains fully committed to the construction of Keystone XL. Plans are already underway on a number of fronts to largely maintain the construction schedule of the project,” said Russ Girling, TransCanada’s president and chief executive officer. “We will re-apply for a Presidential Permit and expect a new application would be processed in an expedited manner to allow for an in-service date of late 2014.”

TransCanada expects that consideration of a renewed application will make use of the exhaustive record compiled over the past three plus years.

“Until this pipeline is constructed, the U.S. will continue to import millions of barrels of conflict oil from the Middle East and Venezuela and other foreign countries who do not share democratic values Canadians and Americans are privileged to have,” added Girling. “Thousands of jobs continue to hang in the balance if this project does not go forward. This project is too important to the U.S. economy, the Canadian economy and the national interest of the United States for it not to proceed.”

TransCanada will continue to work collaboratively with Nebraska’s Department of Environmental Quality on determining the safest route for Keystone XL that avoids the Sandhills. This process is expected to be complete in September or October of this year.

TransCanada has committed to a project labour agreement with the Laborers International Union of North America, the International Brotherhood of Teamsters, the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada, AFL-CIO, the International Union of Operating Engineers and the Pipeline Contractors Association. Any delay in approval of construction prevents this work from going to thousands of hard-working trades people.

TransCanada’s investment of billions of private dollars would create thousands more jobs in the U.S. manufacturing sector. The company has contracts with over 50 suppliers across the U.S.. Manufacturing locations for Keystone XL equipment include: Texas, Missouri, Pennsylvania, Michigan, Oklahoma, South Carolina, Indiana, Georgia, Maryland, New York, Louisiana, Minnesota, Ohio, Arkansas, Kansas, California and Pennsylvania. The benefits these companies and the people of their states continue to be delayed and the negative impacts will be felt.

Girling adds TransCanada continues to believe in Keystone XL due to the overwhelming support the project has received from American and Canadian producers and U.S. refiners who signed 17 to 18 year contracts to ship over 800,000 barrels of oil per day to meet the needs of American consumers.




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TransCanada: will try again, hope for pipeline in 2014

  1. And right out of the gate, they’re lying again.

    Keystone delivers oil to a Texas port….where it’s sent off to other countries.

    And as to jobs…..

    ‘A more accurate forecast from the federal government, one with which TransCanada, the pipeline company, agrees, says the project would create 6,000 to 6,500 temporary construction jobs at best, for two years.’
    http://www.nytimes.com/2012/01/02/opinion/where-the-real-jobs-are.html?_r=3

    • It is easy enough to get near to the 20,000 jobs earlier cited when the conventional  multiplier of +/- 3 is used.  And who in the world is dismissive of 6,000 jobs? 

      • Yup…if you count the dancers in the bars and everything. LOL

        If you’d read the article, you’d know that the US is instead missing out on a $5T market in global clean technology.

        THAT is where the jobs are.

        • Do you mean windmills? or solar?  If so, do your homework. 

          • Do you know what the word ‘senorito’ means?

    • Think you should use a more reliable source than this NYT Editorial – most of the comments were as below:

      “I would like to see any documentation or facts behind this editorial’s assertion that there exists a $5 trillion global clean technology market. Perhaps they mean $5 billion?”

      ____

      “The clean energy alternatives upon which many are hanging their hats are not ready for primetime, not even close. The economics of solar are many years away and will probably never compete effectively with fossil fuels. Alternatives need to be assessed in light of our current economic situation. The pipeline and other oil and natural gas projects are needed now to help keep our economy afloat and to fund alternative energy research. ”
      _____

      “It would appear that the clueless folks in this discussion are the NYT editorial writers.Their statement that ” Mr. Obama needs to lay out the case that industry, with government help, can create hundreds of thousands of clean energy jobs” and citing the Energy Department’s prediction that “…its loan guarantee programs could create more than 60,000 direct jobs in the solar and wind industries…..[and others]” conveniently igores reality.The President and his Energy Department have already laid out that case. It was called “Solydra”Are the editors really unaware that this is the same President and Energy Department loan guarantee program that was motivated not by a careful analysis of the risks and benefits – but by intense political pressure from the Obama White House so it could make the President look good – pressure that resulted in 1100 people losing their jobs and us taxpayers losing $535 million of our hard earned money in the politically – and – depending on where the money went- possibly criminally – motivated Solyndra fiasco. At best this shows utter incompetence in the Obama administration in fashioning a real energy policy – at worst – the most cyncial corruption at the highest levels of our government. And the NYT editors want us to buy more of this?So here’s the real question – why aren’t they expressing outrage and calling for accountability in this Obama energy policy scandal?Oh well – it was only $535 million dollars”

      • Or perhaps you could just have ignored dingbat commentary, and looked it up at other sources.

        I don’t list all sources, or worry about whether someone on here will ‘like’ a source….I just pick one out of many and go with it.

        In this case….since so many sites are shut down today…I went with one I had on hand.

        But really, it wouldn’t matter to you if it was from the Economist, or the WSJ or Fox….you simply don’t like it.

        Green tech….clean tech….is the biggest moneymaker in the world this century….the kind of bucks you’d have made if you invested in steam engines at the beginning of the Industrial Revolution

        Ted Turner, T Boone Pickens, Buffet are all heavily invested…..but you’re worried about a bunch of looney comments at the NYT

        Meantime,  China is eating us for lunch in this field….so is Germany and so are others.

  2. Conflict oil.

  3. Please know that most Americans want this pipeline between Canada and the United States very much. In fact, most of us have done alot of research and find it a shame that the President let Julia Louis Dreyfus make a fool of him. We all have researched the Louis Dreyfus Group and notice that there is a Louis Dreyfus Pipeline business in the USA. And guess what? Neither Julia nor Barack rallied against them.

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