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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.

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Results for trp
BreakingStocksNews
3 Sep 15 04:29:02
$GLNG $TRP $ADXS: News Report on: Golar LNG Limited (USA) (NASDAQ:GLNG …: http://t.co/bOXmx5vGV5
ProTradersNews
3 Sep 15 03:44:02
$TRP: Big Canada Pipelines, KXL: Job Creation Spans Many Sectors, an …: http://t.co/lvMoUnkip7
Sleek Money
3 Sep 15 03:07:26
Traders Buy TransCanada on Weakness $TRP http://t.co/BkEnzPpuLD
ProVesting
3 Sep 15 01:47:02
$TRP: Shares of TransCanada Corporation (NYSE:TRP) Sees Large Inflow …: http://t.co/ODMai7mcjU
BreakingStocksNews
2 Sep 15 23:51:02
$TRP: Big Canada Pipelines, KXL: Job Creation Spans Many Sectors: http://t.co/iQMgQUOChi
Nara
2 Sep 15 18:50:32
$TOPS $TPC $TPLM $TRGP $TRNS $TRP JBEM Glioblastoma Data Trade. Read full DD here: https://t.co/gv9He7HRvh
R Fraser
2 Sep 15 18:36:07
Planning an OCT ATM buy-write on $TRP in the morning. Almost opened it today, but thought I'd sleep on it.
Nara
2 Sep 15 13:35:12
$TOPS $TPC $TPLM $TRGP $TRNS $TRP JBEM Glioblastoma Data Trade. Read full DD here: https://t.co/gv9He7HRvh
danrocks
2 Sep 15 10:41:15
Right now TRP is number 227 for the largest percentage gain out of 246 stocks. $TRP TRP is up +2.65% in the la http://t.co/F7rRoVZcXI
WKRB News
2 Sep 15 05:52:31
TransCanada Stock Rating Lowered by Zacks $TRP http://t.co/Fu6pGHl3RH
FinBUZZ Just-IN
1 Sep 15 16:54:45
See why these assets are trending in 1 watchlist $TRP $DJIA $EURUSD $USDJPY Greek + crisis http://t.co/6GGNfHX7cT http://t.co/R1hkV1GOGK
FinBuzz
1 Sep 15 16:53:03
These assets are seeing a jump in tweets $DJIA $EURUSD $TRP Greece + Eurozone http://t.co/ZGCPsQCihj http://t.co/BufzZig75L
Mike
1 Sep 15 10:27:35
@marketcall @SprungInvest What are your thoughts on $TRP? Is it a good time to add more?
DailyStockPicks
1 Sep 15 08:01:03
$ANFI huge bounce play like $ACI. 100%+ upside potential P/E of 3 $TRP $AMD $SPR $ACTG $BPY $VVUS investors read http://t.co/L1jwUV6Bag
Dakota Financial
1 Sep 15 05:53:21
TransCanada Earns “BBB+” Credit Rating from Morningstar $TRP http://t.co/qXjsJA03IL
Consumer News
1 Sep 15 05:46:25
TransCanada Earns “BBB+” Credit Rating from Morningstar $TRP http://t.co/Em5YfGHZRq #acn
US Banking News
1 Sep 15 05:42:57
TransCanada Earns “BBB+” Credit Rating from Morningstar $TRP http://t.co/ufXRl6cLmr
Ticker Report
1 Sep 15 05:42:55
TransCanada Earns “BBB+” Credit Rating from Morningstar $TRP http://t.co/5QUb2z2czW
Sleek Money
1 Sep 15 05:07:27
TransCanada Lowered to “Sell” at Zacks $TRP http://t.co/y0ct2da2W5
Kevin Taylor
1 Sep 15 00:26:37
$TRP - Tower Resources PLC Issue of Equity http://t.co/e68eJiPBeO
superhotchilli
1 Sep 15 00:26:36
$TRP - Tower Resources PLC Issue of Equity http://t.co/bYUfDXt7Y7
Ian
1 Sep 15 00:26:35
$TRP - Tower Resources PLC Issue of Equity http://t.co/WznydXvK1w
Breaking News
31 Aug 15 23:52:02
$TRP: Will Canadian Oil Spill Affect Proposed Pipelines and National …: http://t.co/tHXnWPyiqk
Consumer News
31 Aug 15 19:39:40
Zacks Lowers TransCanada to Sell $TRP http://t.co/1K9Tt6Kx5w #acn
ProVesting
31 Aug 15 17:28:05
$TRP: Zacks Lowers TransCanada to Sell (TRP): http://t.co/G40GlMOQSl
Crystal
31 Aug 15 13:58:19
CDN Holdings: $BNS $CNR $DOL $EMA $ENB $GEI $IPL $KEY $PPL $RY $TD $TRP
BreakingStocksNews
30 Aug 15 23:55:02
$ENB $TRP: Big Canada Pipelines, KXL: The Interstate of Takeaway Pipes …: http://t.co/2BfnfINJq8
US Banking News
30 Aug 15 19:15:57
$TRP - TransCanada PT Lowered to C$57.00 at Scotiabank #TRP http://t.co/A9ot8d5DvW
Consumer News
30 Aug 15 19:07:28
TransCanada PT Lowered to C$57.00 at Scotiabank $TRP http://t.co/ZyhPILc2DL #acn
The Legacy News
30 Aug 15 06:58:35
Insider Buying: TransCanada Director Buys C$44,347.00 in Stock $TRP http://t.co/LwjfQTpRye
WKRB News
29 Aug 15 08:05:49
Insider Buying: Donald R. Marchand Acquires 1,000 Shares of TransCanada Stock $TRP http://t.co/xcwWmnejB6
Monsieur Dividende
29 Aug 15 06:47:20
Somebody knows anything about the TransCanada Corporation stock $TRP. It seems this dividend player is somewhat beatup. Any takers?
MICHAEL FILLOON
28 Aug 15 21:21:01
Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/FhvBhOBycZ $SU $ENB $IMO $TRP http://t.co/wQxRXdoQMP
Dakota Financial
28 Aug 15 14:22:29
Insider Buying: TransCanada insider Donald R. Marchand Acquires 1,000 Shares of Stock $TRP http://t.co/n4HuwfSSO8
WKRB News
28 Aug 15 14:22:12
TransCanada Director Robert E. Jones Purchases 1,000 Shares $TRP http://t.co/JCYFmHRbQM
Andrew Topf
28 Aug 15 13:35:24
Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/uXYWpCUJJY $SU $ENB $IMO $TRP
StockNewsWires
28 Aug 15 12:38:02
$TRP: Stock in Focus – TransCanada Corporation (NYSE:TRP): http://t.co/34K4w07Fks
Roadmap2Retire
28 Aug 15 12:10:16
Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/GmTmylYGOZ $SU $ENB $IMO $TRP
DJ Olive
28 Aug 15 11:44:14
RT @MarketCurrents: Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/7zx6HdxTB7 $SU $ENB $IMO $TRP
Kelly Jawhari
28 Aug 15 11:38:50
RT @MarketCurrents: Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/7zx6HdxTB7 $SU $ENB $IMO $TRP
Seeking Alpha
28 Aug 15 11:29:06
Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/Xl7UdMzbuy $SU $ENB $IMO $TRP
Energy Stocks SA
28 Aug 15 11:29:05
Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/vW3w86bCs9 $SU $ENB $IMO $TRP
Breaking News
28 Aug 15 11:29:05
Alberta promises not to change oil, gas royalty rates before end of 2016 http://t.co/7zx6HdxTB7 $SU $ENB $IMO $TRP
ProTradersNews
28 Aug 15 09:36:03
$TRP: Will TransCanada Corporation (NYSE:TRP) Keep up with Analyst …: http://t.co/SEgdioLwQI
US Banking News
28 Aug 15 05:54:44
Insider Buying: TransCanada insider Acquires 1,000 Shares of Stock $TRP http://t.co/KCbDmMcaN4
US Banking News
28 Aug 15 05:54:43
Insider Buying: Robert E. Jones Acquires 1,000 Shares of TransCanada Stock $TRP http://t.co/6cIJYpz3bF
Ticker Report
28 Aug 15 05:42:16
Insider Buying: TransCanada insider Acquires 1,000 Shares of Stock $TRP http://t.co/mnfPloTA6G
Ticker Report
28 Aug 15 05:42:15
Insider Buying: Robert E. Jones Acquires 1,000 Shares of TransCanada Stock $TRP http://t.co/FqRpvraXrj
Dakota Financial
28 Aug 15 05:40:12
Insider Buying: TransCanada insider Acquires 1,000 Shares of Stock $TRP http://t.co/YsMJn4dKUf
Dakota Financial
28 Aug 15 05:40:12
Insider Buying: Robert E. Jones Acquires 1,000 Shares of TransCanada Stock $TRP http://t.co/3zZFlqeIH6
				
				
By  +Follow October 3, 2013 12:37PM
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