• 4 minutes 5 Tweets That Change The World?
  • 7 minutes Trump Tariffs NOT China's Biggest concern. Chinese Shadow Banking Bigger. What is Shadow Banking You Ask ?
  • 11 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 15 minutes Glory to Hong Kong
  • 6 hours Trump will capitulate on the trade war
  • 11 hours China's Blueprint For Global Power
  • 3 hours The power of propaganda has no boundaries: Which country has larger territory US od China
  • 5 hours Support Held. Back in UGAZ
  • 10 hours Any difference btw Hunter Biden on BOD of Ukraine Company vs. Qatar bailout of Kushner Real Estate 666 Fifth Ave ?
  • 13 hours PETROLEUM for humanity 
  • 1 hour Iranian Oil Tanker struck by missiles off Jeddah
  • 4 hours Crazy Stories From Round The World
  • 14 hours How The US Quietly Lost The 1st Amendment
  • 11 hours ISIS Prisoners Escape Syria Camp After Turkish Shelling. Woohoo!
  • 7 hours China 2019 - Orwell was 35 years out
  • 15 hours Leftists crying to make oil patch illegal friendly: 'Broken system' starves U.S. oil boom of immigrant workers: CONGRESS DO YOUR JOBS INSTEAD OF PANDERING!
  • 10 hours Total SA In Expansion: $600 million For India's Adani Gas
Alt Text

Is This The World’s Newest Oil Benchmark?

Abu Dhabi, the oil producing…

Alt Text

Big Oil Tries To Buy Back Investors

Despite the turbulence in oil…

Alt Text

OPEC’s No.2 Prepares For Oil Export Boom

Iraq’s oil export capacity is…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

TransCanada Submits Fresh Application For Keystone XL

After on Tuesday President Trump signed executive orders that put Keystone XL and Dakota Access back on the table, TransCanada was quick to submit a new application for a permit that would clear the way for the construction of its Keystone XL pipeline. The State Department has 60 days after final application to grant or deny the permit, as per Trump’s instructions.

The Keystone XL pipeline was to transport a daily average of 800,000 barrels of heavy Canadian crude from Alberta to U.S refineries. It sparked an outrage among environmentalists, however, that led to a veto of the project from the last president. At the time, Barack Obama said the project raised too much environmental concern while its economic benefits were uncertain. Protests against the project have already started anew.

TransCanada argues that the Keystone XL project will create thousands of jobs and boost tax benefits for the communities along its 1,179-mile route. In its press release on the submission of the new application, CEO Russ Girling was quoted as raising this number to “tens of thousands” and noting that it will help ensure the U.S.’ energy security. Related: Russia Makes A Move On Asian Oil Markets As OPEC Cuts

Data from the State Department, however, counters these “tens of thousands” of jobs with calculations that the permanent jobs to be created as a result of the project will only come up to 35. Still the State Department’s 2014 report acknowledges that the project will create a total of 42,100 year-long job positions.

Job creation aside, TransCanada might run into some cost problems with the project because of another document Trump signed this week: a memorandum that requires all pipelines that are to be built, retrofitted or repaired in the U.S. to be made from locally manufactured materials. The problem is that TransCanada has already bought a lot of the materials it would need for Keystone XL, from “North America”.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment
  • Joe on January 29 2017 said:
    Good article Irina. It's interesting that we refer to the oil as Canadian crude because it originates in Canada. However, the truth is that the oil is overwhelmingly owned by American companies that have invested in Canada over the years. President Trump knows that and Secretary of State Tillerson especially knows that, as he made some of the final investment decisions when Exxon Mobil invested in the Oilsands. It's mostly American owned oil that is coming down the Keystone XL pipeline. Maybe you'd like to reasearch this and write an article about it? Joe

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play