You don’t necessarily need to be interested in oil and natural gas to have at least heard of TransCanada’s (TSX:TRP,NYSE: TRP) Keystone XL pipeline. The debate about the northern phase of the pipeline which would connect Hardisty, Alberta with Steele City, Nebraska, has been ongoing in the United States since the pre-election days of 2012. President Barack Obama has yet to make a final decision and has promised to veto any agreement reached in the United States Congress.
While this pipeline’s fate remains in limbo, perhaps it would be wise to begin construction of two other contentious pipeline projects that don’t rely nearly as heavily on U.S. approval. Yes, it would be nice to have the 850,000 barrels per day of capacity online, but there are two proposals on deck that could send 1.1 million barrels per day to the Pacific coast.
Both Kinder Morgan Energy Partners (NYSE: KMP) and Enbridge (TSX:ENB,NYSE: ENB) have projects proposed that would dramatically increase the oil sands’ exposure to the West Coast and the export capabilities that accompany this access. Would these projects provide a better future for the Canadian energy market? Check out the video below for analyst Taylor Muckerman’s opinion on the matter.
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