Politico – Too soon to say whether Keystone XL will be built, TransCanada exec says

July 28, 2017 - Politico

Too soon to say whether Keystone XL will be built, TransCanada exec says

By: Ben Lefebvre

The company behind the Keystone XL pipeline has not yet determined whether there is enough demand for the project to justify actually building it, a top executive said today.

It was the strongest acknowledgment from TransCanada to date that the nearly decade-long Keystone saga may end in failure — despite President Donald Trump's overwhelming support for the project, which he green-lit as one of his first acts in office. The company says it remains confident in the project. But it has been struggling to find enough customers, and it still needs approval from Nebraska regulators for the pipeline's route, which landowners and activists in the state have been fighting since the project was first proposed…

Read the full article here: http://www.politico.com/story/2017/07/28/keystone-xl-status-timeline-241097

…One problem facing TransCanada is that much of the new demand for oil is coming from Asia. Canadian oil shippers would most likely prefer to ship oil to the west coast via Kinder Morgan’s proposed TransMountain pipeline or rail car for easier export to Asia, said Rusty Braziel, president of energy consulting firm RBN Energy.

“If you’re a producer in Alberta, the conundrum you face here is you really want to go west. Do you want to take barrels to the Gulf coast and fight with everyone else sending barrels through the Gulf Coast? Hell no.”