Keystone XL pipeline decision leaves Canada looking eastward
The US rejection of TransCanada’s proposed Keystone XL pipeline will hinder the development of the Alberta oil sands, while making the option of exporting crude to Asia more attractive for Canada, analysts say
The administration of US President Barack Obama on Wednesday rejected TransCanada's proposed Keystone XL pipeline – a 1,700 mile-long pipeline that would deliver oil from the Canadian oil sands to Texas – citing environmental concerns, even as it left open the possibility that an alternative route might win approval in the future.
TransCanada immediately said it would modify its proposal and reapply, but analysts say the Obama administration's move would encourage Canada's oil industry to
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