- TransCanada's (NYSE:TRP) Keystone XL pipeline has a major hurdle to cross in the Nebraska State Supreme Court - which may rule as soon as tomorrow - and one pivotal aspect of the case there has been somewhat overlooked: the question of legal standing.
- While the court seems likely to base its ruling on the constitutional question of who in the state government should decide the pipeline's path, prior rulings suggest that standing - whether a litigant is the proper party to bring a lawsuit - also could be key,
- If the court were to rule that landowners challenging Nebraska law lacked standing, the lawsuit essentially would be tossed out without considering its substance, leaving the door open for future challenges from different plaintiffs.