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TransCanada Says Oil Forecasts Support Keystone XL

Dec 13, 2012
(Reuters)

New forecasts of booming oil output and falling demand in the United States have only strengthened the case for the Canada-to-United States Keystone XL pipeline, a top executive with proponent TransCanada Corp said on Wednesday.

President Barack Obama last January rejected it on concern about the line's route across a Nebraska aquifer, effectively removing it from much of the 2012 campaign debate.

With a new environmental assessment of the project expected soon, the U.S. State Department is moving closer to another decision on whether the $5.3 billion pipeline is in the national interest.