facebook
twitter
search
search

Moody's: Keystone XL could miss window

Nov. 13, 2012 at 6:06 AM
| License Photo

NEW YORK, Nov. 13 (UPI) -- U.S. President Barack Obama is expected to sign off on the Keystone XL oil pipeline, but it's not expected to be a quick process, ratings agency Moody's said.

Nebraska regulators recently published a draft evaluation report for the Keystone XL pipeline, saying a new route proposed by project company TransCanada avoids the ecologically sensitive Sand Hills.

Keystone XL supporters said the 36-inch diameter crude oil pipeline, which would stretch 875 miles from the U.S.-Canadian border to Steele City, Neb., would be a boost for the economy and energy security.

Following Obama's re-election, trade group American Petroleum Institute said the administration should sign off on the project "right off the bat."

Ratings agency Moody's, in a report on the election, said it expected Obama to approve the project.

"But approval will not be quick," energy news website Platts quoted the report as stating. "A prolonged permitting process risks missing the very oil price boom that inspired Keystone XL in the first place."

Critics accused Obama of dragging his feet on the project though concerns about the route through Nebraska impeded momentum. TransCanada this year started work on the Gulf Coast Project, the U.S. leg of the network.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Topics: Barack Obama
Latest Headlines
Top Stories
Finland orders anti-tank weapon from Saab
Orbital ATK's artillery guidance kit passes milestone test
Fourth MUOS arrives in Florida for August launch
Ford building electric bike prototypes with Apple Watch connectivity
North Dakota rig data suggests stability