The TransCanada Corporation has regrouped after Barack Obama's initial rejection of it's Keyston Pipeline and is trying again. The company has slightly altered the route to address Obama's supposed environmental concerns. Will it matter? Or is Obama set on preventing tens of thousands of new jobs all in the name of "green" energy?
U.S. President Barack Obama rejected the full $7.6 billion project early this year due to concerns about the proposed northern portion of the route near an aquifer in Nebraska. Obama has expressed support for the southern portion.
TransCanada has been negotiating with Nebraska state officials over a new route and hopes to have the northern part of the pipeline in service by the end of 2014 or early 2015, assuming it wins State Department approval by the first quarter of next year. That portion would cost $5.3 billion.
The move angered environmentalists, who had claimed the last rejection as a victory in their battle against what they say are oil spill risks and rising greenhouse gas emissions from oil sands development. Last year they staged noisy protests against the project in Washington and elsewhere, leading to some arrests.