President Barack Obama’s advisers are lining up against the proposed Keystone XL oil pipeline. Top Democratic donors oppose the project. And Obama himself dismisses claims that it will create many jobs.
TransCanada Corp.’s Keystone XL pipeline route through Nebraska was ruled illegal by a state court judge in a decision seen as setting back the project by as long as a year as U.S. officials consider approving it.
More Americans view the Keystone XL oil pipeline as a benefit to U.S. energy security than as an environmental risk, even as they say Canada should do more to reduce greenhouse gases in exchange for approval of the project.
Heavy oil from Alberta will be developed with or without the proposed Keystone XL pipeline, though the fuel will be delivered to market using less efficient means, Canada’s ambassador to the U.S. said.
A divided U.S. Congress probably won’t agree to revamping the tax code this year, according to the head of the American Petroleum Institute, which is lobbying to protect breaks for the oil and gas industry.