• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 8 hours The Political Debacle: Brexit delayed
  • 12 hours Trump sells out his base to please Wallstreet and Oil industry
  • 10 hours No Mercy: EU Fines Google $1.7 billion For Abusing Online Ads Market
  • 11 hours 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 19 hours Tidal Power Closer to Commercialisation
  • 9 hours New Rebate For EVs in Canada
  • 20 hours Will Trump Cave Again
  • 21 hours Read: OPEC THREATENED TO KILL US SHALE
  • 20 hours Solar to Become World's Largest Power Source by 2050
  • 3 hours Trump Tariffs On China Working
  • 10 hours Biomass, Ethanol No Longer Green
  • 1 hour Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 1 day Oil stocks are heating up again! What's on your Watchlist?
Alt Text

Oil Slips As Alberta Relaxes Oil Production Cuts

The Canadian province of Alberta…

Lincoln Brown

Lincoln Brown

Lincoln Brown is the former News and Program Director for KVEL radio in Vernal, Utah. He hosted “The Lincoln Brown Show” and was penned a…

More Info

Trending Discussions

TransCanada Asks US For $15 Billion Over Cancelled Keystone XL Pipeline

Environmentalists may have cheered President Obama’s decision to reject the Keystone XL Pipeline, but the Canadian company involved in the project now wants its money back.

TransCanada Corp. (NYSE:TRP) is taking steps to recoup some $15 billion from the U.S. in the wake of Obama’s decision last November to reject the Keystone XL pipeline, which would have transported oil from Canada to refineries in the United States.

TransCanada, who until November had operated under the assumption that the project would inevitably be approved, filed papers on Friday asking for arbitration under the North American Free Trade Act (NAFTA), maintaining that the United States put off the decision on the project for seven years, hampered by what it called “arbitrary and contrived” analyses and justifications.

The document said in part: ““None of that technical analysis or legal wrangling was material to the administration’s final decision…instead, the rejection was symbolic and based merely on the desire to make the U.S. appear strong on climate change, even though the State Department had itself concluded that denial would have no significant impact on the environment.”

The project was decried by environmentalists and others who said that the project had experienced past breaks in the pipeline. In May, the company stated that it had plans to replace sections of the pipeline in the U.S. to permit the product to flow at a higher capacity. Additionally, Secretary of State John Kerry had said that the pipeline was not in the best interests of the United States. Related: Russia-German Pipeline May Break Europe’s Energy Union

In January, TransCanada filed a notice of intent, in which it accused the United States of violating its obligations under NAFTA when it blocked a border-crossing permit for the pipeline.

TransCanada claimed “The delay and the ultimate decision to deny the permit were politically driven, directly contrary to the findings of the administration’s own studies and not based on the merits of Keystone’s application.”

The company has also filed a lawsuit in a federal district court in Texas, maintaining that the administration did not have the authority to block the pipeline.

By Lincoln Brown for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • GregSS on June 27 2016 said:
    This should be interesting to watch.
    I have to agree that there was no reason to strangle this over 7 years.
  • Bob on June 28 2016 said:
    If they win, it will be a glowing example of how international trade agreement can over-ride national laws, which could easily kill off any thought of TPP.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News