This briefing outlines compelling reasons for investors to question whether TransCanada should proceed with Keystone XL given various obstacles facing its construction and commercially viable operation, and suggests questions institutional financiers may wish to ask TransCanada.
This new investor briefing examines the current state of the Keystone XL pipeline and the legal, regulatory, and political obstacles that its owner TransCanada continues to face.
“When even Enbridge is calling this a subsidy, you know Alberta’s XL bailout is another desperate attempt at a lifeline for a pipeline that will never be built. Keystone XL would be a disaster for the climate, and watching governments bend over backwards to be a part of that is heartbreaking in a year where you could barely catch your breath between climate disasters.”
As millions celebrate Thanksgiving, the bosses at TransCanada will not be in a cheerful, festive mood. They will be wondering what went wrong over the last week, after they seem to have snatched defeat from the jaws of victory.
“Today was a victory for everyone working to stop Keystone XL. TransCanada did not get their preferred route which means years of new review and legal challenges are now on the table”
Today the Nebraska PSC chose to stand with Trump, climate denial, and Big Oil. Good luck with that. Whatever happens now there is precisely zero chance that the global citizen, investor, and government momentum behind the Paris goals and against the fossil fuel industry will be stopped. Even if Trump and the PSC are out, the rest of the world is #stillin.
On Thursday, August 10th, in Lincoln, NE, activist groups delivered more than 460,000 public comments opposing the Keystone XL pipeline to the Nebraska Public Service Commission.
Stockman’s planned testimony outlines that changing market conditions and realities in the tar sands industry show that there is no market need for Keystone XL pipeline. This testimony has been essentially confirmed by recent statements by TransCanada representatives themselves, who have expressed doubt in finding sufficient shippers to fill the pipeline.
“Keystone XL has been seen as inevitable before, but we persisted and won. This isn’t game over, it’s game on. Now we have a President who is deeply beholden to the oil industry and will do anything they ask, so this approval is no surprise.”