‘Not the optimal pipeline’: Experts weigh in on Nebraska’s Keystone XL decision

by N/A (feat. Dennis McConaghy)

BNN
November 20, 2017

Nebraska regulators gave TransCanada’s Keystone XL the green light Monday morning in a razor-thin, 3-2 vote. Experts weighed in on the decision that was a crucial hurdle for the project.

Here’s some of what they told BNN:

“As a Canadian, I’m very hopeful because of the huge contribution that this project would make to producers in western Canada, to tax dollars, to jobs, to royalty revenue for governments – a very important project go-ahead. Hopefully there will be enough commitment there to make it work.”

- Patrick Daniel, former CEO, Enbridge

“No doubt, the opponents will throw the legal kitchen sink, so to speak, at this project. ”

- Dennis McConaghy, former executive vice-president of pipeline strategy and development, TransCanada

“This is not the optimal pipeline to build. This pipeline is moving to the U.S. markets. And what we need more than anything – if we really want to achieve maximum profitability – we need to get more of our products to the global markets. And that means coastal pipelines like Trans Mountain.”

- Rafi Tahmazian, senior portfolio manager, Canoe Financial

“I think, unfortunately, this could be headed to the Supreme Court.”

- Maryscott Greenwood, CEO, Canadian American Business Council

“The oil has to move somehow. Look, a spill of some oil in a farmer’s field in South Dakota is better than blowing up a town in Quebec. We view pipelines as being very much safer than oil by rail and much cheaper as well.”

- David Baskin, president, Baskin Wealth Management