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Activists on Wednesday delivered 2 million petitions to the White House opposing the proposed sale of drilling rights from Virginia to South Carolina.
Rice University professor Daniel Cohan says the Obama administration is playing a bigger game than the particulars surrounding the Keystone pipeline.
Neither an unlikely quick victory nor a protracted court battle are likely to have a major effect on TransCanada’s business or its ability to pay its debt, Moody’s said.
The Calgary, Alberta-based company said it had filed a lawsuit in Houston’s Federal Court.
The first major energy legislation in nearly a decade, the bill would also speed natural gas exports and hasten approval of natural gas pipelines across public lands.
TransCanada, best known in the U.S. for the now-shelved Keystone XL pipeline, is the largest independent power generator in Ontario.
TransCanada made the announcement Wednesday, a day before it was scheduled to appear before the Nebraska Public Service Commission for a planning conference.
TransCanada is pursuing bite-sized projects as it seeks to win approval for large-scale pipelines held up by environmental opposition and regulatory scrutiny, including the Keystone XL project rejected this month by U.S. President Barack Obama.
Obama rejects Keystone XL, saying pipeline wouldn’t create many jobs, lower gas prices or boost U.S. energy security
The move ends — for now — a seven-year saga over the proposed pipeline.
Although the move stopped short of a final decision on the $8 billion project, it was seen as paving the way for an eventual rejection of the proposed pipeline.