• 2 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 5 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 6 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 7 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 8 hours Rosneft Signs $400M Deal With Kurdistan
  • 11 hours Kinder Morgan Warns About Trans Mountain Delays
  • 17 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 22 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 1 day Russia, Saudis Team Up To Boost Fracking Tech
  • 1 day Conflicting News Spurs Doubt On Aramco IPO
  • 1 day Exxon Starts Production At New Refinery In Texas
  • 1 day Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
Alt Text

The New Challenger To Lithium Batteries

The lithium-ion battery is head…

Alt Text

3 Stocks To Play Today’s Hottest Market

Big automakers have jumped on…

Alt Text

Are Combustion Engines Reaching Peak Demand?

As countries announce plans to…

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

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

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:




Back to homepage


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