SUGAR LAND, TX — (Marketwire) — 01/24/12 — Written by John Egan for Industrial Info Resources (Sugar Land, Texas) — President Obama–s denial last week of a permit for the Keystone XL crude oil pipeline is creating problems for some proposed crude-oil pipelines, and opportunities for others. The Keystone XL project shot down by the president would have run 1,700 miles from Hardisty, Alberta, to Cushing, Oklahoma, and on to refineries in Texas. Developed by (NYSE:TRP) (Calgary, Alberta), Keystone XL is a $7 billion project to transport up to 700,000 barrels per day (BBL/d) of oil sands crude oil to the U.S.
Another proposed crude-oil pipeline, Northern Gateway, would seem to be a logical beneficiary of the Obama administration–s decision. That project, valued at approximately $5 billion, would stretch about 2,000 miles from the oil sands fields of Alberta to export terminals in British Columbia, where it would be shipped to Asian markets. But that proposed pipeline, being developed by (NYSE:ENB) (Calgary, Alberta), has run into the same kind of political and environmental opposition that stymied Keystone XL in the U.S.
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