Posted on 08/11/2015 2:53:17 PM PDT by SeekAndFind
The Canadian company that has spent the past seven years on a quest to build the Keystone XL pipeline through America’s heartland says it has spent $2.4 billion even before the first shovel has broken ground.
If TransCanada fails in its attempt to build the pipeline, it could use a Clinton-era trade agreement to try to recoup some of that cost.
The North American Free Trade Agreement signed by the United States, Canada and Mexico in 1994 lets corporations sue the members to seek payback for violations of international law. Known as a Chapter 11 claim, the suit would be heard by a three-person tribunal and could leave U.S. taxpayers on the hook for monetary damages.
Late last week, TransCanada CEO Russ Girling left open the possibility of a NAFTA claim in statements following the release of the company’s strong second quarter report. It reported net income of $429 million for the quarter, or $0.60 per share, compared with $416 million, or $0.59 per share, during the same quarter last year.
“TransCanada will employ whatever means necessary to protect its shareholders, and its shareholder value, but that's not our focus at the current time,” he said Friday.
Girling declined to speculate about what would happen if President Barack Obama condemns the Keystone XL by declining to issue a permit the company needs to build the 1,179-mile pipeline across the border between the United States and Canada.
Both supporters and opponents of the project have been waiting months for the president's decision. Rumors about its timing have run rampant, the most recent from North Dakota Sen. John Hoeven, a Republican and pipeline supporter, who said cited unidentified sources in saying Obama would reject the project sometime this month.
(Excerpt) Read more at columbustelegram.com ...
Take it out of Obama’s paycheck.
Screw these sicko’s. Men are men and women are...huh? What? Ooops. Nevermind.
What about the TRANS-Pacific Trade agreement? :)
Anybody think the Clinton Foundation will give them their money back?
I believe there are no American Judges on the NAFTA panel, and California is still paying the contract prices for (Cal EPA/CARB designed and mandated) MTBE that is no longer allowed in California gasoline.
American Environmental Government Employees, truly the most nefarious self aggrandizing Fascists polluting the planet.
What would the Donald do?
Do it and stick it up Jug Ears and Hillary’s asses.
Canuck Jenner?
It’s quite possible. One American company used NAFTA to sue a small Mexican town that had the temerity to complain about toxic waste, and won.
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