Another Keystone XL Setback; Environmental Review Ordered

Associated Press |

NEW YORK (AP) — Environmentalists are lauding a federal court order that blocks a Trump administration permit for the construction of the Keystone XL pipeline, pending an environmental review.

The pipeline would begin in Alberta and shuttle as much as 830,000 barrels a day of crude through a half dozen states to terminals on the Gulf Coast.

U.S. District Judge Brian Morris essentially delayed the $8 billion project to study its environmental impact. Environmentalists and Native American groups sued to stop the project, citing property rights and potential oil spills.

Becky Mitchell, chairwoman of the Northern Plains Resource Council, a plaintiff in the case, said that the organization is thrilled with the ruling.

TransCanada, which is pushing the project, did not immediately respond to a request for comment early Friday.

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Goldrea Resources Corp.

Goldrea Resources Corp is engaged in the acquisition, exploration and development of mineral properties located in North America.