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TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama’s rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to “reach an amicable settlement,” the company said in files posted on the pipeline’s website. “Unfortunately, the parties were unable to settle the dispute.” TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to recover what it says are costs and...

Officials from TransCanada last week echoed Donald Trump's support for the Keystone XL pipeline, but the company was far less enthused about his vow to take "a piece of the profits." The Canadian energy giant sought federal approval for the pipeline, which would connect a network running between Canadian oil sands and Gulf Coast refineries, for nearly nine years before President Obama rejected its application late last year. The project came to symbolize the partisan battle over environmental issues in Washington, and Trump referenced the pipeline among a slew of proclamations in a speech to North Dakota petroleum executives last...

Republican nominee took veiled shots at those who are concerned about global warming and endorsed drilling off the Atlantic coast in a speech on energy policy. Donald Trump promised to only work with ‘environmentalists whose only agenda is protecting nature’ and to ‘focus on real environmental challenges, not the phony ones. Donald Trump pledged to cancel the Paris climate agreement, endorsed drilling off the Atlantic coast and said he would allow the Keystone XL pipeline to be built in return for “a big piece of the profits” for the American people. Trump reaches delegate count needed to clinch Republican nomination...

Montana and five other states say resident Barack Obama overstepped his power by rejecting the Keystone XL pipeline, whose developers are now suing four presidential cabinet members. The states along the pipeline’s route filed a friend-of-the-court brief this week arguing that Congress, not the executive, has the right to regulate interstate and international commerce. The pipeline, which would have crossed the Canadian border, was being developed by TransCanada, which is now suing the government. Because of the resident’s representations to the rest of the world that America would lead in reducing its carbon footprint, that that was the sole reason...

American billionaire Warren Buffett, through his Nebraska-based company Berkshire Hathaway Inc. (NYSE: BRK-A), has acquired a $400 million stake in struggling pipeline company, Kinder Morgan (NYSE: KMI). According to a Berkshire Hathaway US Securities and Exchange Commission filing, the 26.53 million shares of Kinder Morgan are valued at $395.8 million. The purchase adds to Buffett’s oil interests, which includes a recently purchased 14.3 percent stake in oil refiner Phillips 66 at a time when other oil and gas investors are looking for the exit. True to Buffett’s form, the Kinder Morgan purchase came shortly after its stock price fell 53...

The U.S. government says it will help Kenya get the financing it needs to build an $18 billion pipeline from the oil fields in the country's northwest to its southeastern Indian Ocean coast to help it become a net exporter of oil. The pipeline would stretch nearly 500 miles from Lokichar in Kenya’s Great Rift Valley to the coastal town of Lamu, and would be an almost impossibly expensive project for the East African nation. Yet there is enough oil there to make the plan worthwhile. The pan-African financial institution Ecobank Transnational Inc. says it has proven reserves of about...

The “fair and equitable” piece is where the Obama administration is most vulnerable, said David Gantz, a trade law professor at the University of Arizona College of Law. “The issue becomes, if there is a very detailed procedure for approval or disapproval of pipelines, whether the U.S. followed those procedures or whether it went beyond the criteria or procedures,” Gantz said. “I would say the U.S. is pretty vulnerable on that one issue,” he said, “in part because the White House staff and others essentially said, ‘we know we’re doing this politically and to make a statement,’ but the regulations...

The Canadian company that proposed the Keystone XL oil pipeline filed a lawsuit over the U.S. government's rejection of the project and announced it plans to file a second legal challenge that will seek more than $15 billion in damages.

The Keystone XL saga has taken a new twist in the New Year. On Jan. 6, TransCanada (the company that would have built and operated the Alberta to Texas pipeline) launched two lawsuits over President Obama's November rejection of the pipeline. One of the lawsuits will challenge the president's constitutional authority to grant permits when Congress has already acted, as it did in early 2015 when a bipartisan bill was passed approving the construction of the pipeline. The second lawsuit seeks damages of more than US$15 billion by issuing a claim under Chapter 11 of the North American Free Trade...

President Obama has junked the Keystone XL pipeline. His stated reason: The U.S. needs to lead the "serious action to fight climate change." His real reason is different. 'America," Obama said, is "now a global leader" in the climate war, "and frankly, approving this project would have undercut that global leadership." He insists now is the time to "protect the one planet we've got while we still can." Though his rhetoric will resonate with those who want to hear that sort of bunkum, the rest of us recognize its vast emptiness. Obama's decision Friday was based on nothing more than...

WASHINGTON — President Obama announced on Friday that he had rejected the request from a Canadian company to build the Keystone XL oil pipeline, ending a seven-year review that had become a symbol of the debate over his climate policies. Mr. Obama’s denial of the proposed 1,179-mile pipeline, which would have carried 800,000 barrels a day of carbon-heavy petroleum from the Canadian oil sands to the Gulf Coast, comes as he seeks to build an ambitious legacy on climate change. “America is now a global leader when it comes to taking serious action to fight climate change,” Mr. Obama said...

Issues statement on Obama Administration’s rejection of Keystone XL Pipeline WASHINGTON, D.C. — Today, U.S. Sen. Ted Cruz (R-Texas) issued the following statement after the Obama Administration rejected the Keystone XL Pipeline:“Today, President Obama once again confirmed what most of us already knew: he does not care about American jobs or the American economy. He remains controlled by a radical environmentalist agenda, which seeks the elimination of whole segments of our economy.“It’s also notable that President Obama’s decision today is in direct contravention to the wishes of Congress, not to mention the recommendation of his own State Department. The State...

After Barack Obama’s totally predictable cancellation of the Keystone XL pipeline project (for now, at least) there was great celebration among the environmental brigade of the Social Justice Warriors. The evil pipeline was dead, along with all the jobs it would bring and the opportunity for us to capture and process much of Canada’s wealth of energy rather than it being shipped to China. (Which it will be anyway when the Northern Gateway Pipeline is complete, whether we get some of it or not.) But as with all things in the liberal enclaves of the country, one victory is...

Barack Obama went to Oklahoma to promote the Keystone pipeline in 2012. Obama said he was “making the pipeline a priority.” But it was just another lie. Obama also took credit for the oil boom in America.

The main union for construction workers is accusing President Obama of throwing them "under the bus" by rejecting the Keystone XL oil pipeline. The Laborers' International Union of North America (LIUNA) is one of the few labor unions that broke with the majority of Democrats and supported the project, which Obama rejected Friday after a seven-year review. "We are dismayed and disgusted that the President has once again thrown the members of LIUNA, and other hard-working, blue-collar workers under the bus of his vaunted 'legacy,' while doing little or nothing to make a real difference in global climate change," Terry...

The Fox News report that the Teamsters have decided not to endorse Hillary Clinton’s candidacy at this time, shortly after her pronouncement of her opposition to the Keystone XL pipeline, does not surprise and shows the peril of trying to be all things to all constituencies. On the one hand, there is a need to placate environmentalists and climate change true believers who oppose the pipeline from Canada. Among them is billionaire Tom Steyer, an eco-zealot who has pledged his fortune in support of Democratic candidates who want to repeal the Industrial Revolution who want us to rely on solar...

Following remarks by Democratic presidential candidate Hillary Clinton that she disapproves of the Keystone XL pipeline project, the White House said on Wednesday that the State Department continues to consider the project.

RUSH: Hillary Clinton has come out against the Keystone pipeline. Folks, I hope she's doubling her security, because she and her husband have taken multiple millions of dollars in donations and speaking fees personally from banks and other industries in favor of the Keystone pipeline. She has taken money, I mean it's $3.6 million total. Investors have given both Clintons combined $3.4 million right into their pockets. This is not for their little Crime Family Foundation. This is straight to them. Canada banks are among the largest contributors. And Mrs. Clinton used to be for the Keystone XL pipeline. It's...

After months of declining to take a position on the Keystone XL pipeline, Democratic presidential candidate Hillary Clinton says she opposes the construction of the project. "I think it is imperative that we look at the Keystone XL pipeline as what I believe it is: A distraction from the important work we have to do to combat climate change, and, unfortunately from my perspective, one that interferes with our ability to move forward and deal with other issues," she said during a campaign event in Iowa Tuesday. "Therefore, I oppose it. I oppose it because I don't think it's in...

For six and a half years, the White House has had a quick comeback to questions about its yet-to-be-announced decision on the proposed Keystone XL pipeline: Talk to the State Department. Under a George W. Bush-era executive order, oil pipelines crossing U.S. borders require a presidential permit, setting off a government-wide review that the State Department coordinates. President Barack Obama, in no rush to anger either environmentalists or energy advocates, has deflected criticism about the long-delayed decision by arguing that his administration is merely carrying out his Republican predecessor's directive in the ordinary way. But an Associated Press review of...