TransCanada Corp. (TRP)’s Keystone XL pipeline route through Nebraska was ruled illegal by a state court judge in a decision seen as setting back the project by as long as a year as U.S. officials consider needed approval.
The ruling prolongs the approval process in Nebraska as the Obama administration reviews whether to approve the multi-state extension of the international project.
“This gives the U.S. State Department and Obama an out,” said Bob Schulz, a University of Calgary business professor, who predicted there will be an appeal of the ruling. “Why would they decide if they don’t have to decide? I think he’s going to push it back another year...”
Wednesday, February 19, 2014
TransCanada Nebraska Ruling Seen as Delaying Keystone - Businessweek: