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Tag Archives: TransCanada

TransCanada takes 4Q hit after Obama blocks Keystone XL

CALGARY, Alberta — Energy company TransCanada Corp. says it lost US$1.79 billion (CA$2.5 billion) in the fourth quarter, mostly because of its stalled Keystone XL pipeline proposal. The Calgary-based company reported Thursday that it took a US$2.08 billion (CA$2.9 billion) non-cash charge related to Keystone XL, which President Barack Obama blocked late last year. The loss amounted to US$2.48 (CA$3.47) ...

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ND lawmakers react to Keystone XL Pipeline lawsuits

The Keystone Oil Pipeline is pictured under construction in North Dakota in this undated photograph released on January 18, 2012. TransCanada Corporation Handout Photo

Last week, the company that proposed the construction of the Keystone XL Pipeline, TransCanada, filed legal challenges to the United States’ rejection of the project. One of the lawsuits will seek more than $15 billion in damages. In November, President Obama vetoed the pipeline despite approval from both the House and the Senate. The administration claimed the project would undermine ...

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Judge throws out lawsuit challenging Nebraska pipeline law

The Keystone Oil Pipeline is pictured under construction in North Dakota in this undated photograph released on January 18, 2012. TransCanada Corporation Handout Photo

OMAHA, Neb. — A judge has thrown out a lawsuit challenging a Nebraska law that allowed the Nebraska governor to approve the proposed Keystone XL oil pipeline route through the state. Holt County District Judge Mark Kozisek tossed the lawsuit on Friday, agreeing with the pipeline company’s argument that the issue was rendered moot by TransCanada’s decision to abandon plans ...

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Canada’s Alberta to introduce economy-wide carbon tax in 2017

CALGARY – The Canadian province of Alberta, home to the country’s controversial oil sands, said on Sunday it will implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The provincial government estimated the plan, including a pledge to phase out pollution from coal-fired electricity generation by 2030 and ...

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Canada says oil pipeline reviews proceed despite process revision

OTTAWA – Canada’s environmental review of existing applications for crude oil pipeline projects is continuing despite the new Liberal government’s plans to make the assessment process more robust, Natural Resources Minister Jim Carr said on Wednesday. “They have not stopped. The process continues,” he told reporters on a conference call. “There will be a transition as we amend the ways ...

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Keystone XL developer ‘committed’ to completing project

LINCOLN, Neb. — The developer of the Keystone XL pipeline remains committed to completing the final leg of the project even though President Barack Obama denied the Canadian company’s request for a federal permit, a spokesman said Wednesday. TransCanada’s announcement came as the company withdrew its application for route approval through Nebraska. Even before Obama rejected the permit Nov. 6, ...

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TransCanada announces new layoffs as crude slump persists

CALGARY, Alberta – Pipeline company TransCanada Corp has announced new job cuts, as slumping oil prices continue to take their toll on its customers, a spokesman said on Wednesday. TransCanada and other energy companies based in the oil-rich Western Canadian province of Alberta have been hammered with thousands of layoffs in recent months due to the slumping global prices. TransCanada, ...

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