Trump OKs Keystone pipeline, calling it 'great day' for jobs

Trump OKs Keystone pipeline, calling it 'great day' for jobs

Trump OKs Keystone pipeline, calling it 'great day' for jobs

President Donald Trump says "it's a great day for American jobs" after his administration issued a permit to build the long-delayed Keystone XL pipeline.

Relying mostly on the same information, the Trump administration reversed Obama's decision Friday.

In the Oval Office, Trump was joined by Energy Secretary Rick Perry as well as executives from TransCanada-the North American entity who wants to build the pipeline. And it probably will, the researchers write, because oil refined on the Gulf can be sold for a higher price to export markets.

Keystone would strengthen USA energy security by increasing access to Canada's "dependable supply of crude oil", said the State Department, which had jurisdiction because the pipeline crosses the U.S.

"Not only does the Keystone XL Pipeline offer these large-scale benefits for our country, its construction will translate into added revenue for cash-strapped South Dakota counties, relief on our roads and rails, and job opportunities for folks across our state".

"We note that KXL is not included in our valuation for the stock and if the project moves forward, we view that as upside".

The South Dakota Public Utilities Commission a year ago voted to accept pipeline developer TransCanada Corp.'s guarantee that it would meet all conditions laid out by the commission when it approved that state's portion of the project in 2010.

"It's a great day for American jobs and a historic moment for North America and energy independence", Trump said at the White House.

Environmental groups have vowed to fight the pipeline.

The $8 billion project is projected to create more than 42,000 American jobs building critical energy infrastructure.

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"We know there will be well over a million in local taxes because pipelines are assessed and pay taxes", said Wall.

Canadian Prime Minister Justin Trudeau, who has backed the Keystone project, said in French that his government was "very pleased" with the United States announcement, according to an interpreter. "We also recognize the USA has as a top priority securing stable, reliable sources for their energy".

TransCanada, which first applied for a presidential permit in 2008, called the decision a "significant milestone". It's not required to report the start of operations to regulators.

TransCanada still does not have deals with all the landowners in Nebraska on the proposed route and it also lacks a permit in that state. "There is a lot of work ahead for TransCanada". Today the battle against Keystone begins again.

"The importance of a common, continental energy market can not be overstated".

"This project is not only about energy, but also job creation, economic growth and making America more secure by reducing our dependence on Middle Eastern oil", Sen.

The authorization was widely expected after Trump repeatedly pledged during his campaign to expedite the project.

The White House is looking for ways to speed up approvals and permits for other infrastructure projects, which can sometimes take years to pass through a regulatory maze. Finally, in November 2015, Obama rejected the request from TransCanada to build the pipeline, ending a seven-year review.

However, when Trump signed an executive order in January reviving the construction of the pipeline, he suggested it would create 28,000 new construction jobs.

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