TransCanada Disagrees with EPA on Keystone XL Pipeline

Mining Weekly reported that TransCanada Corp. (TSX:TRP,NYSE:TRP) disagrees with the US Environmental Protection Agency’s comment that the Department of State should revisit its final supplemental environmental impact statement (FSEIS) for the Keystone XL pipeline in light of lower oil prices.

As quoted in the market news:

In a letter earlier this month, the EPA had suggested that, in light of the recent drop in oil prices, the State Department should revisit how big of a toll the Keystone XL pipeline would have on global warming, inferring that the slide in crude prices had created tough economic conditions for oil producers and that, in the absence of a pipeline, oil production and emissions would likely be reduced.

TransCanada’s president and CEO, Russ Girling, stated:

TransCanada disagrees with any suggestion that the Department of State has not fully and completely assessed the environmental impacts of Keystone XL.

We also reject the EPA’s inference that at lower oil prices, Keystone XL will increase the rate of oil sands production and greenhouse-gas emissions (GHG). This conclusion is not supported by the conclusions drawn in the FSEIS or by actual market prices and production rates since TransCanada first applied for Keystone XL in 2008.

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