Key-Stonewalled

This week President Obama rejected a permit for the Keystone XL pipeline. If ever built, the pipeline would further open the taps for crude oil supplies from Canada to the US Gulf Coast. Most pipeline construction projects typically do not require a presidential stamp of approval, but the cross-border nature of Keystone XL mandates one. Not only is the pipeline an important crude oil artery between the United States and Canada, it has become an important political test of President Obama as he struggles to balance conflicting interests. Regardless of whether President Obama’s ultimate plans are to green-light the project, this week’s decision might provide enough motivation to accelerate approval on alternate Canadian pipeline projects to services other markets. Download here