NEW YORK The
U.S. State Department has no significant concerns about
TransCanada Corp.s proposed Keystone XL pipeline,
according to an assessment released Jan. 31.
analyzed the potential environmental impact of the pipeline and
is not a decision "on whether to approve or deny the proposed
project," according to a Commerce statement. A 30-day public
comment following the assessment will end March 7.
While the Obama
administration has moved the project forward, construction
still requires the President to determine whether the project
serves national interests in energy security, the environment,
cultural and economic issues, foreign policy and compliance
with relevant federal regulations.
In addition, the State
Department will consult with at least eight different agencies
on the impact of the proposed pipeline.
The Keystone XL
project is an 875-mile pipeline and related facilities that
could transport up to 830,000 barrels of oil per day from
Alberta to Cushing, Okla., and on to the Gulf Coast. Its
seen as a pivotal event in the energy tubular markets, sources
have indicated, as final approval of the project would likely
give the market a big boost.