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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
Commodity3 TEAM
29 Jul 15 00:01:46
RT @BloombergNRG: Keystone supporter says Obama will reject pipeline in August http://t.co/Typ7Jhe4Wt $TRP
Commodity3 TEAM
29 Jul 15 00:01:46
RT @BloombergNRG: Keystone supporter says Obama will reject pipeline in August http://t.co/Typ7Jhe4Wt $TRP
Energy Stocks SA
28 Jul 15 14:55:48
Keystone XL supporter says Obama will reject pipeline in August http://t.co/ldF650C486 $TRP
Breaking News
28 Jul 15 14:55:48
Keystone XL supporter says Obama will reject pipeline in August http://t.co/IuAkygkFwG $TRP
Pit:The Oil Man
28 Jul 15 14:34:18
RT @BloombergNRG: Keystone supporter says Obama will reject pipeline in August http://t.co/Typ7Jhe4Wt $TRP
Allison McNeely
28 Jul 15 14:31:29
RT @BloombergNRG: Keystone supporter says Obama will reject pipeline in August http://t.co/Typ7Jhe4Wt $TRP
BBG Energy News
28 Jul 15 14:31:11
Keystone supporter says Obama will reject pipeline in August http://t.co/Typ7Jhe4Wt $TRP
StockNewsWires
28 Jul 15 12:52:03
$TRP: Keystone Backer Hoeven Says Obama Will Reject Pipeline in August: http://t.co/lemdb3f8aQ
Penny Stock Secret
28 Jul 15 11:32:39
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/SVqoMkrw2z .. $TRNO $TROX $TRP
Energy Stocks SA
28 Jul 15 10:12:13
Oil sands pipeline projects placed in doubt following recent Nexen spill http://t.co/p5HJAbmTS7 $CEO $TRP $ENB $SU
Breaking News
28 Jul 15 10:12:12
Oil sands pipeline projects placed in doubt following recent Nexen spill http://t.co/VXdaMDPiej $CEO $TRP $ENB $SU
DailyStockPicks
28 Jul 15 07:20:55
$OCLS cheap health care stock. Price target of $5. 200%+ upside $TRP $AMD $SPR $ACTG $BPY $VVUS investors read http://t.co/rWpJvFmAFr
Ray Bordogna
28 Jul 15 04:04:40
$WMB shares surge as cheap energy poised to shake up pipeline busines [http://t.co/EQ515CkTOt] Mentions: $ETE, $OKE, $WMB, $TRGP, $KMI, $TRP
InvestWithConf
27 Jul 15 14:42:03
$TRP is rated BUY, 62.7% upside by Wall Street analysts based on average ratings/targets http://t.co/aln0YvnihR http://t.co/pEqxcnsV5c
Livevol Community
27 Jul 15 09:00:03
HIGH CALL VOLU $AI 3050% $IVR 2667% $PEG 1762% $WMC 1439% $BEN 1000% $NRG 744% $TRP 566% $JNPR 512% http://t.co/gwzPxh5Y4R
pennyomega CRWE
27 Jul 15 04:19:44
Ones To Watch on Friday $PEG, $MT, $RLGY, $TYC, $TRP, $RCL, $AEE, $STX and $ENB http://t.co/gfzhjcoJHV
CRWE News Wire
27 Jul 15 04:12:53
Ones To Watch on Friday $PEG, $MT, $RLGY, $TYC, $TRP, $RCL, $AEE, $STX and $ENB http://t.co/Vb1ARFoiHm
CRWE News Wire
25 Jul 15 04:04:08
Interesting Profit Reports to Watch for the Week Ahead $TYC, $TRP, $PEG, $RCL, $WY, $RLGY, $NWL, $AEE, $BERY http://t.co/Ckvk77o74P
Penny Omega
25 Jul 15 03:55:52
Interesting Profit Reports to Watch for the Week Ahead $TYC, $TRP, $PEG, $RCL, $WY, $RLGY, $NWL, $AEE, $BERY http://t.co/xPvQgijNno
Dr Stockpick
25 Jul 15 03:54:32
Interesting Profit Reports to Watch for the Week Ahead $TYC, $TRP, $PEG, $RCL, $WY, $RLGY, $NWL, $AEE, $BERY http://t.co/4N7K2L1VFd
pennyomega CRWE
25 Jul 15 03:45:39
Interesting Profit Reports to Watch for the Week Ahead $TYC, $TRP, $PEG, $RCL, $WY, $RLGY, $NWL, $AEE, $BERY http://t.co/lzm0PBkJWc
mike zaman
25 Jul 15 03:44:47
Interesting Profit Reports to Watch for the Week Ahead $TYC, $TRP, $PEG, $RCL, $WY, $RLGY, $NWL, $AEE, $BERY http://t.co/EX6KCwUxJ0
Shiraz Lakhi
24 Jul 15 13:56:55
Strong Volume Screener: Energy #Stocks Trading UP on STRONG Volume $ENB $TRP $ETP $PAA ++ Full List Here: http://t.co/Nbs9eX0BzC
Kevin Taylor
24 Jul 15 03:19:06
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/3NAnSYMt8A
superhotchilli
24 Jul 15 03:19:04
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/s6lwxnCaf7
Ian
24 Jul 15 03:19:03
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/nxaFyWniOw
REDLEAF
23 Jul 15 12:11:32
Oil Warning: The Crash May Be Much Worse Than You Think http://t.co/JTwXXTPHkJ via @YahooFinance $UWTI $COP $MRO $XOM $CHK $KMI $TRP
The Legacy News
23 Jul 15 10:57:44
TransCanada Receives $61.50 Average PT from Brokerages $TRP http://t.co/4deELMULQL
ProVesting
23 Jul 15 01:21:02
$TRP: Analyst Price Target Update on TransCanada Corporation (NYSE ...: http://t.co/VLS92u4s0M
UTD Legend™
22 Jul 15 22:24:00
$TR🍗P$
D Robertson
22 Jul 15 11:45:35
@Kingston_Trader @nachoswithsalsa @blerghhh @TommyTirader $RDS $XOM $CVX even $TRP $IPL all hovering around 52wk lows - US MPLs destroyed
Greek Gangbang ™
22 Jul 15 09:45:37
Down week continues Losers- $LLTC $AAPL $BHP $CAT $TWTR $TRP $EPD $EEP Winners- $GLNG $EMC $XOM $MO $UN
Ophir Gottlieb
22 Jul 15 08:20:20
Technical Collapse -> http://t.co/N4phPfMavZ $TRP Down -1.44% to New Low http://t.co/iEtyqBFtEp
Vigo Communications
21 Jul 15 08:45:15
Tower Resources could be worth double, GMP Securities says http://t.co/3n3gaDCEE3 $TRP
Kevin Taylor
21 Jul 15 08:26:05
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/vyhAfskxil
superhotchilli
21 Jul 15 08:26:03
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/7Wr7gYDy9H
Ian
21 Jul 15 08:26:02
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/sM465vZ7Nb
wsnewspublishers
21 Jul 15 07:26:28
Active Movers to Watch: http://t.co/oa1Tcizapo $AGEN $IRDM $MTSN $TRP
wsnewspublishers
21 Jul 15 06:49:08
Active Stocks News Recap: http://t.co/We34JKaSvU $UTX $TRP $RMBS
wsnewspublishers
21 Jul 15 06:45:18
Pre-Market Stocks Recap: http://t.co/CDv4nAMrTk $TRP $STJ $AXAS
Kevin Taylor
21 Jul 15 06:19:06
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/2IURWKgGk9
superhotchilli
21 Jul 15 06:19:03
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/cNaM9riABX
Ian
21 Jul 15 06:19:03
$TRP - Tower Resources PLC Holding(s) in Company http://t.co/uoKW0EOnc8
Breaking News Now
21 Jul 15 05:39:02
$UTX $TRP $RMBS: (NYSE:UTX), TransCanada Corporation (USA) (NYSE:TRP): http://t.co/AiTyfU4kHU
MyAllies Trading
20 Jul 15 15:48:08
$TRP Media Advisory: Keystone Pipeline System Safely Delivers One Billionth Barrel of Oil, Bringing Jobs, Gro... http://t.co/iXJwttkEXZ
				
				
By  +Follow October 3, 2013 12:37PM
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