Current TRP Stock Info

As the new Congress comes to session, one of the first items on the agenda is the Keystone XL Pipeline
Obama Veto to Follow Passage: White House
Incoming Energy and Commerce Committee member Rep. Kevin Cramer (R-ND) has authored legislation to authorize construction of the Keystone XL Pipeline that will go before the U.S. House of Representatives Friday for a vote. This vote will be the tenth time legislation has come before the House regarding the construction of Keystone.

Most recently, legislation to authorize the construction of the pi...

Analyst Commentary

From Raymond James Energy Research Group

White House makes explicit threat to veto Keystone XL. As readers of our research know, we have long held the view that the intensity of political focus on the Keystone XL pipeline has reached bizarrely excessive proportions. On both sides of the debate, the arguments (It will fix unemployment! It will cause the glaciers to melt!) are almost cartoonishly exaggerated. But, in any case, the question has remained: Would Congress override the Obama administration's current policy of letting the regulatory approval process drag out? In the new congressional session that began yesterday, both House and Senate leaders are vowing to hold a vote on a bill to approve Keystone XL, as early as this week, and it seems abundantly clear that both chambers will pass the bill. However, it has been unclear whether President Obama would veto the bill - his rhetoric up to this point has contained a degree of ambiguity. That changed yesterday, as the White House for the first time made an explicit veto threat, stating that the regulatory approval process needs to be maintained. As things stand, it appears that the Senate has 63 votes in favor of the bill - four short of what's needed to overturn a veto. Thus, both the project's supporters and opponents will presumably turn their attention back to the regulatory agencies rather than Congress.  


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