- The House of Representatives passed legislation today approving the Keystone XL pipeline, and the White House promptly issued another veto threat on the bill.
- The House has now passed such a bill 10 times since 2011; the difference this time is that the Senate is under new Republican control and will begin debate on an identical bill next week.
- Lengthy debate and a likely string of amendments from Democrats mean the Senate may spend several weeks on the measure; in addition to discussing environmental concerns, opponents are expected to paint Keystone as an export pipeline whose oil will end up in China or elsewhere.
- After Nebraska's top court ruled against a challenge to the route through the state, TransCanada's (TRP +1.2%) Russ Girling said the company would continue to pursue the project as long as there is a demand from oil shippers, even if the Obama administration decides to reject the pipeline’s application.