US Senate Fails to Override Obama’s Veto of Keystone XL Approval

Reuters reported Wednesday that the US Senate failed to override President Barack Obama’s veto for approval of the TransCanada (TSX:TRP) Keystone XL pipeline. Now the controversial project must await an administration decision on whether to permit or deny the project.

As quoted in the market news:

The Senate mustered just 62 votes in favor of overriding the veto, short of the two-thirds needed. Thirty-seven senators voted to sustain Obama’s veto. The Senate action means the House of Representatives will not vote on override.

Some Republicans have spoken of trying again to force Obama’s hand on the project, by attaching Keystone approval to some other bill in Congress this year.

Obama last month vetoed the bill authorizing the pipeline’s construction, saying it had bypassed a final State Department assessment on whether the project would benefit the United States. The department is handling the approval process because the pipeline would cross the U.S.-Canadian border.

Click here to read the full Reuters report.