CALGARY, Alberta, July 29 (UPI) -- Canadian pipeline company TransCanada said leaks on its Keystone oil pipeline didn't have a significant impact on its second-quarter earnings.
Lawmakers in the Republican-controlled U.S. House of Representatives are pressing the White House and State Department to sign off on TransCanada's proposed extension to its Keystone oil pipeline.
The current pipeline carries about 590,000 barrels of oil per day from oil sands projects in Alberta, Canada, to markets in the United States. Keystone XL would expand the current network from Oklahoma to refineries along the coast of the Gulf of Mexico.
The company recorded a 30 percent increase in its second-quarter profit when compared with the same period in 2010.
Regulators and environmentalists say they are worried by the potential for spills and uncertainty about the safety of transiting oil from tar sands in Canada.
A study from the University of Nebraska, published by the advocacy group Friends of Earth, concluded TransCanada made "flawed and inappropriate assumptions" about the expected spills from its pipelines.
Disruptions along the existing Keystone network, in service since June 2010, didn't have a "significant" impact on profits for TransCanada, Bloomberg News quoted the company as saying.
