Video: Gold mining faces a cliff after 2025, CRU analyst predicts
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As expected, the U.S. House of Representatives has voted in favour of approving TransCanada Corp.’s (TSX, NYSE:TRP) controversial Keystone XL oil pipeline, hours after President Obama harshly criticized the project, saying it will not impact U.S. gas prices nor will create as many jobs as its supporters claim.
The House, where Republicans have a crushing majority, voted Friday 252-161 on a bill sponsored by Republican Rep. Bill Cassidy of Louisiana, which is aimed at circumventing the need for Presidential approval.
Obama, who has repeatedly delayed deciding about the US$8 billion project, made clear he sees little value for the country he leads, adding he will veto any effort by Congress to take control of the approval process.
“Understand what this project is: It is providing the ability of Canada to pump their oil, send it through our land down to the Gulf where it will be sold everywhere else,” the president said today during a visit to Yangon, Myanmar. “It doesn’t have an impact on U.S. gas prices.”
“If my Republican friends really want to focus on what’s good for the American people in terms of job creation and lower energy costs, we should be engaging in a conversation about what are we doing to produce even more.”
Keystone XL Pipeline — Overall route map. (Courtesy of TransCanada)
No one knows for certain what Obama will do, but the signs point to his rejection of the bill.
“The administration, as you know, has taken a dim view of these kind of legislative proposals in the past,” White House Press Secretary Josh Earnest said Wednesday. “I think it’s fair to say that our dim view of these kinds of proposals has not changed.”
This is the ninth time the pipeline, set to carry crude oil from Canada to the Gulf coast in Texas, has been voted on in the House following several environmental reviews and legal challenges to its route and politics.
The Senate is schedule to vote on the same bill next week.
Image via WikiMedia Commons.
8 Comments
Kay Xu
Now this is a move in the right direction. Keystone should have been approved a long time ago. Obama can’t make a decision on this or anything else. Most indecisive president of all time.
Excessive regulation, lawsuits, billion dollar fines by the government, gigantic health care payments, no growth policies like no keystone pipeline, illegal immigrants, etc. aren’t exactly helping our nation’s growth!!
Everybody I know is either out of work or under-employed. I haven’t had a raise in years despite all my expenses increasing from year to year. My health insurance is up to $450/month from just $200/month. My car insurance is currently only $25/month (from Insurance Panda) and renter’s only $15/month (from Eagle)…both private enterprise… but who knows when Obama will try to step in and socialize those?
Fortunately, Obama wants to give amnesty to 25 million illegal immigrants. No better way to create opportunity for disenfranchised LEGAL CITIZENS.
Good work on passing the Keystone pipeline, republicans!
Jim
Corporations run our countries, not presidents or prime ministers. Money before people. Money before climate. Money before health. Money before education. Money before common sense.
Michael D
NYC puts more money into education then any other city and it’s school system is a dismal failure because lefty’s like you do not believe in personal responsibility. Just blame the corporations they make for an easy target.
LAMB
As a Canadian, I would like to see all this Pipeline work kept in Canada and use our own ports in BC to send our oil to market. So, I vote for OBAMA to stop the Keystone Pipeline into the USA.
TheHappyMiner
That’s not very neighborly of Mr.Obama…
Mar
Obama’s true colors are now showing! – He is no friend of Canada and he is lying to the American people as numerous studies on this pipe line from his own administration have shown the benefits to America, minimal impact if any as far as climate change is concerned and that this oil would largely displace Venezuelan oil currently used by American refineries. He and his party have been bought out and highjacked by a minority group of green’s and lefties.
38Years
I didn’t think anyone, except the 30% day dreamers still even listened to this irrelevant used car peddler woth 0 experience and 0 success.
nobody24
…so if the pipeline was to be built, it would be Mexicans not American’s building it? And those working at the Texas refineries… they too would be Mexican? Don’t Americans do construction, or work at Texas refineries anymore?
First he comes to an agreement with the Chinese, that they DO NOTHING for 16 years, then, in 2030 “think” about reducing their emissions?, While the USA cut their, did Obama just invest personally in “renewable energy”???? Then he says Keystone is a Canadian conspiracy to export oil… huh?
If Barry had been President at the end of WWII the USA would have surrendered to the Japanese after Nuking them… this man is amazing… he really does lie! Thanks to him, there will not likely be an African-American as President again for a thousand years!!!!
When he had a majority in the House and Senate, he did… nothing, then when he loses both, he becomes a dictator with Executive Orders… has there been a less effective, more useless president in the history of the USA?