TransCanada pipeline clears key hurdle

TransCanada Corp. has secured a major boost to its plans for the long-awaited $5.2-billion Keystone oil pipeline, securing a U.S. presidential permit that allows the construction of the gargantuan infrastructure project.While TransCanada must still secure some approvals from U.S. states, getting the presidential permit was considered to be the largest regulatory hurdle to getting Keystone approved. The company expects the pipeline, which will be the most expensive yet built by TransCanada, to open up a vast, untapped market in the southern U.S. for Canadian producers, creating new buyers and improving price stability for crude from Alberta’s oil sands.

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