“Those options include filing a new application to receive a Presidential Permit for a cross border crude oil pipeline from Canada to the United States”, a statement from the company said.
Advertisement
“President Obama’s decision to reject Keystone XL because of its impact on the climate is nothing short of historic”.
Obama told a news conference on Friday he had concluded the pipeline, proposed by TransCanada Corp, would not help the US economy over the long term.
The latter is a project under development, with the goal of moving 1.1 million barrels of western crude to the Canadian East Coast per day.
“(It) sets an important precedent that should send shockwaves through the fossil fuel industry”.
TransCanada, which is now the sole owner of the Keystone pipeline system (several phases of which have already been completed), argued that it would have strengthened energy security in North America and created thousands of construction jobs, Reuters said.
Newly sworn in Canadian Prime Minister Justin Trudeau, a supporter of Keystone, voiced disappointment but said the Canada-U.S. relationship “is much bigger than any one project”. “TransCanada is reviewing the decision and its rationale”.
“Today, misplaced symbolism was chosen over merit and science – rhetoric won out over reason”, company president and CEO Russ Girling said.
A senior U.S. State Department official left open the possibility TransCanada could seek a different decision under another US administration, telling reporters: “for the State Department to reconsider the application at any time, the company would have to reapply”.
As for TransCanada’s situation, it wasn’t the best week for them, after requesting Washington to suspend the consideration of the Keystone project on Monday, while on Thursday they scrapped plans for another Energy East marine terminal. Obama previously vetoed a bill passed by the Republican-led Congress which would have started work on the pipeline immediately, citing the need to finish environmental studies first.
Advertisement
“We are disappointed by the decision but respect the right of the United States to make the decision”.
