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TransCanada (TRP) to Finish Southern Portion of Keystone XL by October

By  +Follow October 3, 2013 12:37PM
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TransCanada Corp. (TRP) said on Thursday that the southern portion of its massively unpopular Keystone XL pipeline would be completed by the end of the end of the month, and will begin transporting oil within 30 days.

The Gulf Coast portion of the pipeline will carry oil from Cushing, Oklahoma, the physical delivery location for West Texas Intermediate contracts traded on the NYMEX, to Nederland, Texas.

TransCanada has been working on the Gulf Coast pipeline, which has a projected capacity of over 800,000 barrels per day, for over a year now. The $2.3 billion project constitutes one third of the overall Keystone XL gambit, which has been in limbo since meeting stiff resistance from communities on both sides of the US-Canada border.

Despite TransCanada’s promises of the ostensible jobs that could be created as a result of the pipline’s construction, as well as guarantees about environmental safety, many residents of towns and cities along the northern portion of the Keystone route have concerns about the notoriously dirty tar sands oil that it would transport from Canada all the way down to the Gulf of Mexico for export.

Furthermore, while TransCanada and other supporters of the project have consistently tried to reassure its detractors by claiming that oil prices would drop across the Midwestern US as a result, it is not even clear if the company’s executives actually believe this themselves.

Indeed, it is no secret that one of the main goals of the pipeline is to increase demand for Canadian crude oil, and raise prices high enough to be competitive with Mexican and US crudes that also ship out of the Gulf Coast.

The US portion of Keystone XL has been under review for some six years now, with President Barack Obama having nixed the project last year amid enormous pressure from both supporters and opponents of the pipeline.

While the announcement could be considered somewhat of a victory for the Canadian gas utility, TransCanada admits that any construction in the absence of the full route would be relatively pointless. Company spokesman Les Cherwenuk told Bloomberg that “If something were to occur, then you build a smaller pipeline, but at this point in time, just building Keystone XL based on Bakken contract supplies is not attractive.”

Shares for TransCanada were down 1.35 percent to $43.13 heading in to Thursday’s close.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for trp
Jeff Quiggle
29 Aug 14 12:35:11
Keystone or bust? Not! $TRP 5th straight all time high #pipeline #Canada #US
Stock Signaling
28 Aug 14 17:31:31
Movers and Shakers: Recently Upgraded: $GES $EXPR $LVLT $ARUN $WM $THI $MT $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X http://t.co/Vtx6dLy0Nw
361 Capital
28 Aug 14 14:26:30
All Time New Highs Today: $AAPL $HD $AMGN $TD $EPD $CNI $TRP $ETE $WLP $SRE $SHW $SYF http://t.co/yOTcXL8HFr
Business News Now
28 Aug 14 11:51:27
$TRP: TC PipeLines Hits 52-Week High on Steady Dividend Increase http://t.co/AKzgI3Niwh http://t.co/6ysn5r3tQN
Shan Shan Xie
28 Aug 14 11:03:20
$TRP Revisiting an idea that I've mentioned earlier week~ Cup w/ Handle breakout $52 http://t.co/PRcyh4y1iV
Stock Signaling
28 Aug 14 08:01:58
Movers and Shakers: Recently Upgraded: $GES $EXPR $LVLT $ARUN $WM $THI $MT $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X http://t.co/Vtx6dLy0Nw
Energize Minnesota
28 Aug 14 05:54:31
Sacramento leaders question crude oil rail project http://t.co/WsQT2CZekD Dont like #rail then support cleaner alternative #KeystoneXL $TRP
FonsieTrader
28 Aug 14 04:20:54
Moved Upper Bollinger Band 2/2 $PBR $PDS $PFE $SBS $SNSS $TIVO $TRP $TSU $UNH $VOD $WFM $WFT http://t.co/5ZRBVNYYOw
MarketCurrents
28 Aug 14 03:38:37
Another senior official departs from the Keystone XL project http://t.co/0fg7mUUM7j #premarket $TRP
Financial News
27 Aug 14 23:51:13
$TRP: Sparring continues on Keystone as delay seen through midterms http://t.co/WV2jEWm9Me http://t.co/UmDXJDKeVh
TopFlight Trades
27 Aug 14 22:46:13
New Highs, Strong Demand and Strength: $ITUB, $BDSI, $BBD, $TRP, $AHS, $CENX and $PEIX. More tomorrow!
Stock Signaling
27 Aug 14 17:32:09
Movers and Shakers: Recently Upgraded: $EXPR $LVLT $ARUN $WM $THI $MT $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X $EJ http://t.co/Vtx6dLy0Nw
Ros + Reuters
27 Aug 14 15:44:40
U.S. State Department lawyer Benes is latest #Keystone XL player to go http://t.co/hbsRRbRYHC via @reuters $TRP #environment #climate
Shiraz Lakhi
27 Aug 14 12:32:29
Final Hr: Top LARGECAP #stocks in-play / backed by STRONG-VOLUME-SPIKE $TIF $BBY $BMO $BNS $TRP +more (click "View") http://t.co/GIEGevxtBj
Bill Gunderson
27 Aug 14 12:21:33
$TRP !!!! What is up there?
Stocks in News
27 Aug 14 11:51:13
$TRP: TransCanada Receives Regulatory Approval for Northern Courier Pipeline Project http://t.co/dsV5cBg7bi http://t.co/HeYCKQd1Rq
Syed Waqas Nabi
27 Aug 14 11:00:15
A bullish Big MAC (Bullish) has occurred at 1:15 PM Aug 27 at $53.64 on TransCanada Corp (TRP) $TRP
John Kallis
27 Aug 14 10:40:33
#MeritrustCorePortfolio trimmed positions in $CYH and $BF.B today. Added $CBI and $TRP with proceeds. YTD +6.45%
Option Runners
27 Aug 14 10:01:18
The $TRP run continues. Jan 55x calls still in OI >> http://t.co/mwciZr4fkG
Stock Signaling
27 Aug 14 08:01:45
Movers and Shakers: Recently Upgraded: $EXPR $LVLT $ARUN $WM $THI $MT $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X $EJ http://t.co/Vtx6dLy0Nw
Large Void Bot
27 Aug 14 06:31:12
New 52wk Highs: $MPAA $TRP
Financial Headlines
27 Aug 14 04:51:17
$TRP: TransCanada Pipe Project Would Claim More Marcellus/Utica Gas http://t.co/suKCWWUh6y http://t.co/MwuWr0qFn0
Investor Wand
27 Aug 14 04:07:24
Is $TRP a BUY? Citi thinks so:http://t.co/cDePbCQ1E0
TalkMarkets
27 Aug 14 01:23:33
#TransCanada Pipelines - Chart Of The Day $TRP http://t.co/KbGyemiqv8
Guy Wildeman
27 Aug 14 00:02:09
Note to self...dividend growth. Barron's: TransCanada is attractive alternative to U.S. MLPs, could rise 35% http://t.co/kMtQwAIPAc $TRP
Sheldon Chaulk
26 Aug 14 19:16:24
RT @StockSignaling: Movers and Shakers: Recently Upgraded: $MT $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X $EJ $IVZ $QUNR $SEAS $TSLA $TFM ht…
Stock Signaling
26 Aug 14 17:31:31
Movers and Shakers: Recently Upgraded: $MT $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X $EJ $IVZ $QUNR $SEAS $TSLA $TFM http://t.co/Vtx6dLy0Nw
Jeff Quiggle
26 Aug 14 17:11:53
Keystone or bust? Not! $TRP all time high above 5-week inv-head&shoulder on heavy volume http://t.co/XZ9StGNBip
Financial News
26 Aug 14 14:51:35
$TRP: Barron's Recap: Time For A PepsiCo Split? http://t.co/Ix6WOEy7dx http://t.co/QoUkB3OWsZ
ShortStockVolume.com
26 Aug 14 14:47:48
Top Shorted Stocks 08/25/14... 8. $SIRI 74.13% 9. $EPI 72.12% 10. $PGN 68.57% 11. $TRP 68.08% 12. $ITB 67.99% 13. $GGB 67.99%...
ShortStockVolume.com
26 Aug 14 14:47:46
Top Shorted Stocks 08/25/14... 10. $PGN 68.57% 11. $TRP 68.08% 12. $ITB 67.99%... http://t.co/ym9DZLfWAm
BNK Invest
26 Aug 14 12:06:21
Ex-Div Reminder for TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 1 $TRP.... http://t.co/l97CLHf4Pe
MarketCurrents
26 Aug 14 11:46:28
Keystone fight continues as delay seen through midterm elections http://t.co/4SPaX4mvgg $TRP
WallStreet
26 Aug 14 11:12:08
$TRP, $M, $RIG, $WLT - Emerging Stock Stories: TransCanada (TRP), Macy's, Transocean (RIG), Walter Energy (WLT) - http://t.co/LNrlDanfdU
Syed Waqas Nabi
26 Aug 14 10:00:10
A bullish Big MAC (Bullish) has occurred at 11:45 AM Aug 26 at $52.62 on TransCanada Corp (TRP) $TRP
Stock News Updates
26 Aug 14 09:51:20
$TRP: Companies file export application for Alaska LNG http://t.co/UWbQ7oB6nv http://t.co/oFL6KDiZCN
Shiraz Lakhi
26 Aug 14 09:23:38
Breaking: Top LARGECAP #stocks in-play on STRONG VOLUME-BREAKOUT $THI $TRP $BMO $TRW $MT +more (click "View") http://t.co/1zsiiqJjbs
Shiraz Lakhi
26 Aug 14 09:19:01
Breaking: Top ENERGY #stocks in-play on STRONG VOLUME-BREAKOUT $ENLC $LRE $TRP $ROYT $PER +more (click "View") http://t.co/QqVjBn1G4H
Stock Signaling
26 Aug 14 08:02:02
Movers and Shakers: Recently Upgraded: $MPEL $ADEP $ITMN $BKW $AMTD $WPX $TRP $X $EJ $IVZ $QUNR $SEAS $TSLA $TFM $AKS http://t.co/Vtx6dLy0Nw
Syed Waqas Nabi
26 Aug 14 08:00:15
A bullish Big MAC (Bullish) has occurred at 10:30 AM Aug 26 at $52.44 on TransCanada Corp (TRP) $TRP
FusionIQ
26 Aug 14 07:49:26
Barron's and FusionIQ on $TRP http://t.co/9gI25psihE via @sharethis
FusionIQ
26 Aug 14 07:47:43
Barron's through the prism of FusionIQ - $TRP http://t.co/56eqF6qxLy via @sharethis
Companies in News
26 Aug 14 06:51:26
$TRP: Why TransCanada (TRP) Stock Is Lower Today http://t.co/zN5kW6DeWY http://t.co/5UZvZbOWdc
Large Void Bot
26 Aug 14 06:31:12
New 52wk Highs: $BBD $GILD $SPCB $TRP
LT
25 Aug 14 21:26:06
$TRP strong accumulation on 6X average daily volume - long over 52.36 http://t.co/F9kbz8bCbw
Stock Signaling
25 Aug 14 15:01:06
Volume Leaders: $ARIA $WPX $CLF $BKW $ITMN $CSIQ $THI $ACI $TRP $EXAS $MY $TSLA $VZ $X $CRM http://t.co/Vtx6dLy0Nw #mkt #finance #dow #stock
US Banking News
25 Aug 14 13:12:20
TransCanada Sets New 1-Year High at $52.36 $TRP http://t.co/FWJVMFnbtC
InterCooler
25 Aug 14 13:06:16
TransCanada Sets New 1-Year High at $52.36 $TRP http://t.co/NmPy4sEAqx
Forex Insight
25 Aug 14 11:55:55
RT @CliffatMIG: $TRP: New Lifetime High Today: TransCanada (TRP) http://t.co/BDsk3U6B8Z http://t.co/qm3ko73vXg
Stock News Headlines
25 Aug 14 11:51:32
$TRP: New Lifetime High Today: TransCanada (TRP) http://t.co/BDsk3U6B8Z http://t.co/qm3ko73vXg
				
				
By  +Follow October 3, 2013 12:37PM
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