APTN National News
Hearings into the Keystone XL pipeline started Monday in Lincoln, Nebraska.
If approved, the $8-billion pipeline will carry oil from Hardisty, Alberta, down to Oklahoma, and Texas.
The CEO of one the biggest crude oil producers in Canada says he’s confident that the Keystone XL pipeline will be built despite doubts related to lower oil prices and regulatory obstacles.
Steve Laut, CEO of Canadian Natural Resources said in an interview on Thursday his company is committed to using almost a fifth of the capacity on the 830,000-barrel-per-day conduit.
“It makes economic sense to support Keystone and we support Keystone. We’re in for 150,000 barrels per day,” he said.
The contentious pipeline was approved by U.S. President Donald Trump in March but questions have been raised about the business case for it after proponent TransCanada Corp. launched an open season call last week, giving shippers until next month to commit to using 225,000 barrels per day of available room.
The pipeline also faces a key regulatory hurdle in Nebraska where a state commission is expected to rule by late November on whether the Keystone XL pipeline serves the public interest.
Those opposed to the pipeline rallied outside the state capitol in Lincoln.
(Cathy Collentine, a senior campaign representative with the Sierra Club.)
A number of American Tribal leaders, and First Nations chiefs have banded together to try and stop the project.
They’re also partnering with groups like the Sierra Club.
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- with files from The Canadian Press
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