Financial Post

The White House will reverse course and approve the Keystone XL pipeline, according to Moody's Investors Service.

"But approval will not be quick. A prolonged permitting process risks missing the very oil price boom that inspired Keystone XL in the first place," Stuart Miller, Moody's vice president, said in a report published November 12.

"Still, even if Keystone XL went into operation in 2015 or 2016, Gulf Coast refining and marketing companies would benefit from wider light/heavy crude price differentials."
But President Obama’s re-election could mean elimination of tax exemptions, slower permitting process and tighter regulations on oil and gas companies, the ratings agency warned.

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