Another Page in TransCanada’s Keystone XL Drama

The environment, not jobs remains the key to Keystone’s future.

| More on:
The Motley Fool

TransCanada’s (TSX:TRP, NYSE:TRP) dreams of oil flowing direct from Canada’s oil sands to the U.S. Gulf Coast through the company’s Keystone XL pipeline are in the hands of the U.S. government.  In fact, the ultimate decision rests right at the top of the U.S. government, with President Obama.  He however is expected to be strongly influenced by the advice of Secretary of State John Kerry.

In a New York Times interview out over the weekend, Obama indicated that the employment argument that is being put forward as a reason to green light the project doesn’t hold much water.

For reference, TransCanada believes that the proposed pipeline will create about 20,000 jobs.  Here’s an excerpt from the Times interview that provides some insight into what Obama thinks about that figure….

“Republicans have said that this would be a big jobs generator.  There is no evidence that that’s true. The most realistic estimates are this might create maybe 2,000 jobs during the construction of the pipeline, which might take a year or two, and then after that we’re talking about somewhere between 50 and 100 jobs in an economy of 150 million working people.”

Politically charged

Obama appears to be making a politically charged dig against the Republican Party with this comment, however, it at least indicates that should the project receive his stamp of approval, it won’t be because of the potential boost it might provide to the country’s unemployment situation.  This leaves the project’s potential environmental impact as the primary swing factor.

Yield is important – no, yield is crucial – to our portfolios. The thing about the Canadian market though is that high-quality yield is only available from a very narrow portion of the market.  That’s why the Motley Fool has assembled a free list of 13 other high-yielding stocks that will help you take a more diversified approach to generating income.  Click here to check out the list today.

The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool Canada’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead.

Follow us on Twitter and Facebook for the latest in Foolish investing.

Fool contributor Iain Butler doesn’t own shares in any company mentioned at this time.  The Motley Fool doesn’t own shares in any of the companies mentioned.   

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

More on Investing

up arrow on wooden blocks
Dividend Stocks

2 High-Yield Dividend Stocks You Can Buy and Hold for a Decade

Restaurant Brands International (TSX:QSR) and another high-yield dividend payer are worth banking on for the long haul.

Read more »

hand stacks coins
Investing

Where Will Brookfield Corporation Stock Be in 10 Years?

Brookfield (TSX:BN) did well last decade. Will it thrive in the next one?

Read more »

think thought consider
Dividend Stocks

Restaurant Brands International: Buy, Sell, or Hold in 2025?

Investors should look more closely at QSR stock and potentially buy on the recent weakness.

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Dividend Stocks

Maximizing Returns with Your 2025 TFSA Contribution Room

The TFSA is a top tool for maximizing investment returns. Here are two stocks that could be a great buy…

Read more »

woman retiree on computer
Dividend Stocks

Should You Buy Telus Stock at $20?

Down 40% from all-time highs, Telus is a beaten-down TSX dividend stock that trades at a discount to consensus price…

Read more »

top TSX stocks to buy
Dividend Stocks

Here’s Exactly How $15,000 in a TFSA Could Grow Into $200,000

Canadians with sizeable TFSA balances today have utilized the full potential of the investment vehicle.

Read more »

clock time
Investing

Building Generational Wealth: Why Now Is Still the Time to Invest in Canadian Stocks

Here's why Canadian stocks should still be the core of your investment portfolio.

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Dividend Stocks

The 1 Canadian Stock I’d Buy and Hold Forever in a TFSA

Don't get complicated. Consider this Canadian stock as a long-time buy.

Read more »