Keystone XL pipeline talks heat up, as Iraq crisis continues

|By:, SA News Editor

With the escalating violence in Iraq and uncertainty of future crude oil prices, TransCanada’s (TRP) Keystone XL pipeline is once again the center topic of many U.S. energy discussions.

Supporters of the project are pointing to the crisis in Iraq as a reason to push forward with the $5.3B pipeline, which has faced numerous delays in the last six years. Yesterday, the Senate Energy and Natural Resources committee voted 12-10 to advance the bill toward a construction approval.

Still, many are against the project due to environmental concerns, and negative forecasts associated with job creation and oil shipments.