- The Trump transition team is exploring ways the new president can green light TransCanada's (NYSE:TRP) Keystone XL oil pipeline on the day he is sworn into office, including by rescinding a 48-year-old presidential order, Bloomberg reports.
- Although details are still being developed, the Trump strategy reportedly hinges on rescinding a 1968 executive order that put the State Department in charge of permitting border-crossing oil pipelines and determining whether proposed projects serve the "national interest."
- Oil pipelines generally would still be subject to environmental review, even if the State Department is not involved, but the Keystone plans already have been vetted, with years of environmental scrutiny culminating in Pres. Obama’s decision last year that the pipeline was not in the U.S. interest.