Forward! Keystone XL Pipeline Application Submitted Five Years Ago Today (Video)
By Duane Lester, editor of The Missouri Torch and All American Blogger.
The House Republicans released the following video to bring attention to the five year anniversary of the Keystone XL pipeline’s application being submitted:
From the Wall Street Journal:
Five years ago this week the global financial crisis was triggered by the collapse of Lehman Brothers Holdings Inc. But this week also marks the five-year anniversary of another, initially quieter, event: the application for approval of the Keystone XL pipeline to carry Canadian crude directly to the U.S. Gulf coast.
On Sept. 19, 2008, TransCanada Corp.TRP.T +0.84% filed with the U.S. State Department to ship an additional 500,000 barrels of oil a day through an expanded, then-unnamed pipe in its existing Keystone system linking Canada and the U.S. The company had formally announced its plans to file two months earlier.
What the Calgary-based operator expected to be an 18-to-24 month waiting period has now dragged on for five years, with no firm deadline in sight.
Meanwhile, Warren Buffett’s railroad is making piles of money hauling the oil the pipeline would have carried.
Probably just a coincidence.