Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Could one family farm stop a multi-billion-dollar pipeline project from going ahead? Probably not, but a Texas family farm will at least have its day in court.
The Province newspaper reports that TransCanada Corp., the Canadian company hoping to build a $7-billion pipeline extension project allowing Canadian crude to flow to Texas Gulf refineries, has been restrained by a U.S. court from building the line through the Crawford Family Farm in northeast Texas.
The farm rejected a cash offer by TransCanada Corp allowing it to build the pipeline across the property.
But lawyers representing the farm accuse the company of acting in bad faith and withholding key information about the project, as well as doing a “slipshod” study of the archeological impacts, The Province reported. The land contains artifacts from the Caddo Indians.
The two sides will give arguments in a hearing on Friday that will determine whether TransCanada can expropriate the property under eminent domain laws, which give the state the right to seize a citizen’s private property, with due monetary compensation, but without the owner’s consent.
The company has obtained 99% of the easements it needs in Texas, said the Province.
President Barack Obama in January rejected the $7 billion-plus Keystone XL pipeline which would have carried 700,000 barrels of crude oil a day from the Alberta oil sands to refineries along the US Gulf coast.
Meanwhile,Republicans in the US Congress are trying to include provisions that would approve the Alberta-to-Texas pipeline in a highway bill that is working its way through both houses of the legislature this week.
7 Comments
sparkysr
While gas prices are rapidly rising thru the roof, and we on fixed incomes are finding it more and more difficult to afford the gasoline needed to do our daily chores, this president and his senate (Harry Reid) continually say no to the xl pipeline.
The establishment republicans should hang their collective heads in shame for not backing the one person that could and would have defeated this horses ass in the 2010 elections.
Madman
Yes the rino Republicans were protecting Harry Reid. Is that Cindy Crawford family?
bear
Are artifacts more important than getting a pipeline in that will help ease out dependency on foreign oil?? IF they are that important can’t they be carefully dug up & taken to a safe place??
Mark Harder
Folks. It’s foreign oil. It’s from Canada. Canada is a friendly foreign nation so far. But speaking of Canada like it’s the same as the US has a way of pissing them off. Take it from me.
I agree that appropriate development is important for job creation. But I wonder why the pipeline has to end in Houston, a Gulf Coast port. Are we sure the oil won’t be exported, or at least exported as a refined product? That may create some jobs, but I doubt it would increase the US supply, as long as fuel commands a much higher price abroad.
Daniel from TN
Surely Keystone can find somone willing to accept the payment for a right-of-way besides the property owner in question. Using eminent domain would be political suicide at this time.
Alternate routes MUST be in consideration almost every foot of the proposed path for the pipeline. Pick an alternate and move on.
Jaysea1
as “the” carney says, oBummuer is for an all of the above approach for energy EXCEPT (not mentioned in the daily dose of bs known as the wh briefing) the one project that would ensure over 5 million barrels per week aka 110 million barrels per year. in other words more useable energy than all his pie in the sky green projects combined at way less in price, it’s the most studied (over 3 years) pipeline ever, the greenies came up with a last minute deterence, it’s over an aquafer, adjustments were made in around 3 DAYS to avoid it completely but now we need more research, for what? to find out that the new route endangers the ballless dung beetle, who happens to be on the verge of extinction (come on 11/06/2012 or even more importantly 1/20/2103, OR maybe he’ll do as he suggested w do step down before the 1/20 date “because the people have spoken” yeah and i’ll grow a tail and become the last triple crown winner since Affirmed.
had heard of some “shadow figure” “running” the conservative movement, can’t remember his name right now but it’s Norcrost or something like that. saw him for the 1st time at CPAC on the net and actually felt true optimism that although we probably won;t win a veto proof (60) senate, we will win enough to get won’t let the senate vote on what the people want harry reid, we will win enough to take the majority, thus reid becomes irrelevent. zer0’s running on a “do nothing congress” knowing that most people associate the congress with the house and fail to realize that the senate is 50% of congress and can pretty much do or stop whatever it wants to (it doesn’t always work for the good of the country, but usually does and that is what our founders envisioned while designing the world’s first representive, constitutional REPUBLIC aka not a democracy (hitler’s germany was a democracy)
we have a real chance to reclaim our country from those who want to be our rulers as opposed to being our representatives (what they were elected/hired to do) aka governing UNDER the consent of the governed.
gotta walk by baby so just will finish with this his speech filled me with opi sm
Jaysea1
couldn’t get my cursor to move to correct my previous post so i’ll make it quick, 06 and 08 were “wave” elections against bush = alot of dims won in those years and this year and in 14 they’re up for election again. the numbers are really stacked against the d’s this year 23 d vs 10 r’s, 2014 20 dimsvs 13 or 14 r’s. btw the only vulnerable r this year is Scott Brown and he’s a rino in a very blue state but i sent him $ last election and he;s (to me) better than any d. a veto proof senate and a house majority along with a repub POTUS would be able to roll back alot of what made this transformed america into what it has become, and stop US from going where oBozonomics takes us greece on roids