Officials are in the middle of hearings that will decide the fate of the Keystone XL project. The debates are taking place in Lincoln’s Cornhusker Marriot Hotel and gathered environmental activists, TransCanada spokespersons, ranchers, tribal members, and other Nebraskans. Therefore, the meetings have the necessary resources to create comprehensive negotiations. However, the company itself might not be willing anymore to begin such a mission, despite President Trump’s promises of a new pipeline.
The Nebraska Public Service Commission Will Issue a Ruling Concerning the Fate of the Keystone XL Project
The Trump administration turned the Keystone infrastructure project into a priority. Thanks to these authorities, the plan was brought back to negotiation table in March. However, TransCanada executive vice president Paul Miller claimed last month that there would be no formal investment in the project until the month of December.
This week’s hearings before the Nebraska Public Service Commission or PSC are debating whether it is safe to allow the pipeline passing through the state or not. However, if they take a negative decision, they might as well kill the project altogether. TransCanada doesn’t have other alternatives than a route directly through Nebraska.
Even Though It Is No Longer Building the Infrastructure, TransCanada Could Resell the Permits
However, PSC’s ruling might appear as late as November. On the other hand, this decision pertains to TransCanada as well. Nonetheless, the company might not be willing to go ahead with Pipeline XL project any longer. Executives have been talking about this construction since 2008. Since then, there were many changes in this industry, including some disappointing oil prices. On top of that, there’s also the threat of the clean energy market.
However, anti-pipeline authorities are not giving up on their cautiousness just yet. That’s because if the company receives the permit from PSC, they have several options with it. For instance, if they refuse to start this project anymore, they can resell the documents to another willing pipeline developer. Therefore, the company representatives are refraining, for now, to reveal their intentions in case they abandon the Keystone XL project.
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