Someday, TransCanada’s (TSX:TRP,NYSE:TRP) odyssey to gain the Presidential stamp of approval to move forward with its Keystone XL pipeline will be remembered by its induction into the “foot-dragging” hall of fame.
An article in today’s Washington Examiner indicates that some politicians have had enough. In their mind, it’s time for President Obama to act.
2 Democratic and 2 Republican Senators from Louisiana, Montana, North Dakota, and South Dakota respectively released a joint statement today indicating they want Obama to approve the pipeline. Now.
“We cannot sit by while excuse after excuse delays jobs in Montana and across the country,” said Montana’s Senator Max Baucus. “We’ve had years of studies and the president’s own State Department has repeatedly concluded the environment won’t be harmed. It’s past time to put Americans to work building the Keystone pipeline.”
TransCanada of course hasn’t been idly standing by as this deliberation process has played out. The company continues to move ahead with other projects, including the portion of the Keystone pipeline that does not cross the border, as well as announcing the Energy East project. However, to have this drawn out process behind it will surely come as a huge relief and free up the company’s resources for more productive endeavors.
Should the Keystone XL pipeline finally be approved, and once the Energy East project is in place, it’s not a stretch to think that oil from Canada could one day make its way to China. But what many don’t realize is that Canada is already helping to power China by way of uranium – the key ingredient for nuclear power. That’s why The Motley Fool has prepared a Special FREE Report that will clue you into the two best uranium companies in Canada. It’s called “Fuel Your Portfolio With This Energetic Commodity,” and you can receive a copy at no charge, by simply clicking here!
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Fool contributor Iain Butler does not own shares in any of the companies mentioned. The Motley Fool does not own shares in any of the companies mentioned.