Trump grants permit for Keystone XL Pipeline

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One of President Trump’s first actions after taking office was to invite TransCanada to reapply for a presidential permit to build the Keystone XL oil pipeline — a permit which has now been granted, according to TransCanada Corp.

The Keystone XL Pipeline has been at the center of political discord for over eight years. In 2015, former President Obama rejected TransCanada’s application for the permit.

With Trump’s approval, the president is living up to his campaign promise of supporting energy companies and advocating for new infrastructure.

Russ Girling, CEO of TransCanada, reacted to the president’s approval:

“This is a significant milestone for the Keystone XL project. We greatly appreciate President Trump’s administration for reviewing and approving this important initiative and we look forward to working with them.”

The company will now end both its claim under Chapter 11 of the of the North American Free Trade Agreement (NAFTA) and its U.S. constitutional challenge and, instead, “continue to engage key stakeholders and neighbors.”

This includes reapplying for approval in Nebraska, which had created legal problems for TransCanada during the initial stages of the project.

The Dakota Access Pipeline, which also faced pushback from the Obama administration but was approved when President Trump took office, is nearing completion and will begin transporting oil soon.

President Trump has been highly supportive of the two projects, stating that development of new energy projects like these will secure U.S. independence, add jobs, and help jump-start the economy.

The president is scheduled to speak about the Keystone XL permit on Friday morning.

H/T: Bloomberg

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