The fifth environmental review regarding the Keystone XL Oil Pipeline and we will once again enter a national comment period. Michael Whatley with the Consumer Energy Alliance says at the end of the day this is called a “presidential permit” meaning President Obama’s decision will be delivered to the Secretary of State office where the decision will be announced. He has analyzed the situation and believes in the end it will be a go.
Whatley says a year ago President Obama didn’t want to take the chance and upset supporters or opponents of the pipeline so the issue was tabled during the election. He says now, with unrest in Syria and Egypt, one bad action could cause a big price hike and the president will give the green light. The Consumer Energy Alliance has been polling Americans and they report upwards of 70% approve of the project.
Whatley says there have been enough delays that TransCanada is making alternate plans. There are two other pipelines under proposal to go across the Canadian mountains to the Pacific coast and TransCanada announced last month they will build another pipeline to Montréal and then to the coast. He says this oil will find a way to the world market and the other countries that want to buy it and understand it is coming at a discount and from a reliable trade partner.
An answer from the U-S regarding the Keystone XL Pipeline is likely yet this year. Whatley says if it is approved there will likely be many lawsuits filed by environmental groups opposing the pipeline.