Friday, January 20, 2012

Republicans Pushing Keystone Pipeline in Other Ways

Congressional Republicans who tried to force President Barack Obama’s hand on the Keystone XL pipeline now want to take away his authority on the issue altogether, extending a debate with the administration over jobs and the environment.
Obama on Jan. 18 rejected TransCanada Corp. (TRP)’s proposed $7 billion pipeline, saying the 60-day congressionally imposed deadline didn’t allow sufficient time to weigh the risks. The Calgary-based company said it would accept the administration’s invitation to reapply for a route around the environmentally sensitive Sand Hills region in Nebraska.
While TransCanada considers its options, congressional Republicans are looking for other ways to push through approval of the pipeline. The House Energy and Commerce Committee may consider legislation as early as next week that would require the Federal Energy Regulatory Commission, a panel that regulates electricity and natural gas markets, to issue a permit for the pipeline within 30 days of receiving a new application.