NEW YORK The
U.S. State Department should conclude its review of the draft
supplemental environmental impact statement for the proposed
Keystone XL pipeline, executives of TransCanada Corp. said
during an earnings conference call July 26.
closing in on 1,800 days since the review of Keystone XL
began," president and chief executive officer Russ Girling
said. "It is now time to bring this process to its
that the pipeline would not increase greenhouse gas emissions.
"It is just a pipeline," he said, adding that it would not
"dictate a growth in supply," as charged by some opponents of
the project (
amm.com, July 25).
Girling said the
United States faces a choice of whether to source oil from
friendly nations like Canada or opponents like Venezuala. "For
now, the U.S. cannot live without oil," he said.
Once the review is
complete, the department will issue a final supplemental
environmental impact statement which will be followed by a
90-day national interest determination before a presidential
permit decision is made.
Alberta-based pipeline company expects Keystone XL to be in
service two years after it is approved, according to its
second-quarter earnings statement.
TransCanada has not
seen shipping interest wane due to the long approval process,
according to Alex Pourbaix, TransCanadas president of
energy and oil. "(Keystone XL) is still the most economic route
to the Gulf (for Alberta oil producers)," he said.