TransCanada sticks by its numbers after Obama challenges Keystone job estimates -

TransCanada sticks by its numbers after Obama challenges Keystone job estimates


CALGARY – TransCanada Corp. (TSX:TRP) insists that the proposed Keystone XL pipeline will create about 20,000 jobs, despite suggestions by U.S. president Barack Obama that those estimates might be unrealistic.

In an interview with The New York Times this weekend, Obama said that based on “the most realistic estimates” the project might create “maybe 2,000 jobs” during the construction of the pipeline.

“…and then after that we’re talking about somewhere between 50 and 100 jobs in an economy of 150 million working people,” he said.

But a spokesman for Trans-Canada noted that Obama’s comments were aimed at his Republican opponents, who have used the economic benefits as one of their major arguments for the project.

“I wouldn’t think the president would come out externally and in the media and actually agree with the Republicans regardless of what he might think in private,” James Millar said in an interview Sunday.

“I attribute those comments more to being political rather than how he might truly believe on a project.”

Millar, however, couldn’t account for the discrepancy between Obama’s estimates and those provided by TransCanada.

“There is no reason for us to overinflate our numbers, we have to answer to our board, we have to answer to our shareholders,” Millar said.

Obama has the final say on the future of the pipeline project _ which will give final approval to the pipeline that would stretch from Alberta to the U.S. Gulf Coast _ that could come sometime this fall.

He is facing intense pressure from both sides of the debate. Keystone has become a symbol for environmentalists on both sides of the border — they’ve waged a fierce public relations battle against the project.

Obama told the Times that he was open to ways to ease concerns about any environmental risks and has said before he will only approve the project if it doesn’t increase carbon pollution.

The U.S. State Department, which is reviewing the project because it crosses an international border, issued a draft report earlier this year that suggested Keystone XL’s impact on greenhouse gas emissions would be minimal. A final report is expected to be completed this fall.

Obama rejected the $7.6-billion project last year, but invited TransCanada to file a new application with a different route that would address environmental concerns in the state of Nebraska.

Despite the pressure on Obama to reject the project, TransCanada is confident Keystone XL will still be approved, Millar said.

“Even though there is politics involved, we believe that the decision will ultimately be made from a business standpoint of what makes the most sense.”


TransCanada sticks by its numbers after Obama challenges Keystone job estimates

  1. […][Ms. McCarthy, an earthy, tough-talking New Englander who drew criticism
    as the head of the agency’s air and radiation office during Mr. Obama’s
    first term, then ticked off a list of controversial air pollution
    regulations she had helped write: tough greenhouse gas standards for vehicles, a tighter ozone limit that the White House rejected, the first rule on mercury emissions from power plants, and a regulation on smokestack
    pollution that crosses state lines, which has been blocked by a federal
    court. She warned that earning confirmation from the Senate might be
    difficult and that safer choices were available.

    The president told Ms. McCarthy that his environmental and presidential
    legacy would be incomplete without a serious effort to address climate

    Obama is serious, propaganda and denial from Trans-Canada doesn’t cut it.

    • Obama is NOT serious. This is a man, after all, who flies a 747 across the country for one of his golf games when there are plenty of golf courses in Washington.

      If one is not willing to lead by example in any meaningful way, don’t expect to be taken seriously by anyone.

  2. Don’t want our oil? We don’t want your war machine, American woman.

  3. This land was our sole kingdom
    and our right alone. To those who never listen and never think about how they
    feel today; a great nation has come from far with their soiled wealth, wresting
    this country from hapless people Giving back—but wars and graves.

    You that will not listen; Have you forgotten our Fathers’ and their Fathers’ before them Remember, they fought for freedom and justice not so long ago.

    You and you alone do not have ownership of this country, its’ wealth of natural resources. We the people have stewardship of this Our Native Land.

    The people of this nation, not foreign investors have power over our Dominion, our future, the “well being” of our lands and its people

    We are an educated nation A nation that is capable of determining its’ own destiny. Selling off valuable assets to foreign powers is not the answer. Investing in our nations industries and its’ people is!

    Producing goods, refining our petroleum, forest industries, grain production, cattle, fishing & fowl industries, wheat, life sustaining crops, leather goods, water resources,
    utilities (electrical power/ natural gas) and yes even shoe laces. We can do all this and more. We can provide for all. All this and much more are ours to embrace.

    The greatness of this nation,and its’ people is superior to any foreign power. Our neighbors to the South have the strength of will and primary investments in our nation. It is a price we must pay for deeds from the past and growth for the future of this land.

    We know we cannot stand alone when adversity strikes. Let us not surrender additional foreign ownership of our Dominion.Misguided and ill-considered control of our Nation is at the very least wrong.

    Excerpts credited to:
    Emily Pauline Johnson (flint and feather)

  4. The Keystone pipeline jobs are only temporary jobs. When the pipeline is done, so are the jobs. I guess Obama has to weigh out if the Keystone, is worth the risks?

    Perhaps Obama will develop their own huge oil field instead. Their oil field can rival the oil sales from Saudi.

    • .

      ALL Construction jobs are “temporary.” Regardless, the pipeline will undoubtedly create thousands of jobs in maintenance, monitors and refinery workers.

      If the same ridiculous standard that Construction jobs are not “jobs,” then the president’s infamous Stimulus created no teacher or highway worker jobs either.