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Transcanada Responds To Trump Executive Order: Says Keystone XL Will Add $3 Billion To US GDP

In a response filed moments ago by TransCanada, the company said it is currently preparing a follow up application, and will take up President Donald Trump’s invitation to again seek permit for the Keysteon XL pipeline. It further adds that Keystone XL will add more than $3 billion to U.S. GDP and create “thousands” of construction jobs.

Full statement below:

We appreciate the President of the United States inviting us to re-apply for KXL.

 

We are currently preparing the application and intend to do so. KXL creates thousands of well-paying construction jobs and would generate tens of millions of dollars in annual property taxes to counties along the route as well as more than $3 billion to the U.S. GDP.

 

With best-in-class technology and construction techniques that protect waterways and other sensitive environmental resources, KXL represents the safest, most environmentally sound way to connect the American economy to an abundant energy resource.

Ironically, as the back and forth was taking place, news emerged that a pipeline in the western Canadian province of Saskatchewan leaked 200,000 liters (52,834 gallons) of oil in an aboriginal community, the provincial government said on Monday according to Reuters. The government was notified late in the afternoon on Friday, and 170,000 liters have since been recovered, said Doug McKnight, assistant deputy minister in the Ministry of the Economy, which regulates pipelines in Saskatchewan.

The spill came seven months after another major incident in Saskatchewan, in which a Husky Energy Inc pipeline leaked 225,000 liters into a major river and cut off the drinking water supply for two cities. It was not immediately clear how the current incident happened or which company owns the underground pipeline that leaked the oil.

McKnight said Tundra Energy Marketing Inc, which has a line adjacent to the spill, is leading cleanup efforts. "There are a number of pipes in the area," he told reporters in Regina. "Until we excavate it, we won't know with 100-percent certainty which pipe."

Tundra, a privately held unit of Canadian grain trading and energy conglomerate James Richardson and Sons Ltd, released a statement saying it is cooperating with all levels of government and will ensure "the affected land is restored appropriately."

The incident happened in the lands of the Ocean Man First Nation 140 km (87 miles) southeast of the provincial capital of Regina, according to the province.

It is still unclear how environmental groups will react to today's executive orders by Trump.