NEW YORK Pipe and tube market participants expect the U.S. State Departments final supplemental environmental impact statement on the proposed Keystone XL pipeline to spur support for the project and potentially lead to its approval.
We see this thing slowly but surely getting re-energized to the point that it will go forward, Paul Vivian, principal of St. Louis-based Preston Publishing Co., told AMM.
I sure hope (TransCanada Corp.) can have at least a little more momentum now to say, get out of the way and let this thing happen, Pipe Logix LLC manager Kurt Minnich told AMM, adding that the arguments for the pipeline have been strengthened with the State Departments finding that Keystone XL is not expected to significantly exacerbate greenhouse gas emissions (amm.com, Jan. 31).
The environmental support is there, Minnich said.
President Obama had said the pipelines impact on the climate would be critical to determining whether the project would be approved (amm.com, June 26).
The environmental analysis of Keystone XL released today once again supports the science that this pipeline would have minimal impact on the environment, TransCanada president and chief executive officer Russ Girling said in a statement.
Vivian said the reroute of the pipeline after its initial rejection was largely expected to have resolved most lingering environmental issues.
We felt that they (TransCanada) had made their best attempt to try to account for the issues that were at hand and that most likely the environmental studies were going to come back with just minor impacts, he said.
Sources said that along with the departments findings of minimal impacts, recent accidents involving rail cars carrying crude oil might give the pipeline the push it needs.
Theres not a cleaner or more efficient way to transport oil than through a pipeline, one energy tubular trader said.