You know who is probably most peeved at Republicans for trying to score political points over the Keystone XL schedule? TransCanada. Because while Republicans’ huffing over the administration’s decision to 86 the pipeline permit will affect Obama about .00001 percent, TransCanada’s stock took a dive and now has the potential to become what analysts call “dead money” — just a really bad stock to invest in, basically.
TransCanada has already announced it’s going to reapply for a new pipeline route. But it’s hard to know whether the company means it when the CEO says “he expects [the Keystone XL pipeline’s new] review would be ‘expedited,’ allowing the firm to stick to its schedule.” Of course, the company wants its stockholders to believe it is “maintaining an ambitious plan to have its proposed Alberta-to-Texas oil pipeline operating by late 2014,” as the Calgary Herald reports, but really: 2014?
Depending on how eager the Obama administration is for the pipeline to be built eventually, that could actually happen. But given the success protesters have had in derailing the project so far, the “ambitious plan” might not be much more than a pipe dream (ha). And protesters aren’t letting up: 350.org is still planning an action next week to call attention to the tangle of oil money and politics in D.C.
TransCanada May Be 'Dead Money' After U.S. Spurns Keystone XL, BusinessWeek.
TransCanada Hopes to Stick to 2014 Timeline for Keystone Pipeline, Calgary Herald.