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Not So Fast: Three Factors Could Stop Keystone Pipeline from Ever Being Built – Smarter Shift
by ahnationtalk onMarch 20, 201796 Views
March 19, 2017
In spite of Donald Trump’s January 24 executive order inviting TransCanada Corporation to reapply for permission to build the Keystone XL pipeline, there are three good reasons to think the pipeline may never be built, DeSmog Canada reported last week.
“U.S. approval, while a great leap forward for TransCanada, doesn’t guarantee the Keystone XL pipeline will ever be built,” DeSmog reports, citing economics, landowners, and environment and climate concerns as the three barriers still standing in the project’s path.
Under the heading of economics, DeSmog cites Enbridge CEO Al Monaco’s recent statement that Canada will only need two more pipelines, including the recently-approved Line 3 pipeline expansion, to meet foreseeable demand through the middle of next decade. Other analysts agree, pointing to the huge financial gambles associated with long-term pipeline contracts and the recent decisions by several international fossil companies to abandon their tar sands/oil sands projects.