TransCanada Legal Battle for Keystone Pipeline Face Stiff Challenges
The Keystone pipeline legal war is getting uglier.
TransCanada Corp takes the rocky legal path seeking to either overturn the rejection of President Obama or at least recouping certain amount of its lost investment in the project that cost it multiple billions.
The major Canadian company energy company based in Calgary, Alberta, filed a lawsuit on Wednesday in a federal court in Texas. It is asking the court to announce the decision given by the White House illegal.
In another instance, TransCanada also said that its plans to issue a claim of $15 billion in damages, under the North American Free Trade Agreement (NAFTA).
However, both the cases are not easy rolling and have a mounting battle to face. However, some of the international trade lawyers opine that this U. S. political battle which is a high-profile fight related to the pipeline might prove to be helpful in TransCanada's claims of unfair treatment under NAFTA.
Designed to connect some of the existing oil pipeline networks in Canada and the United States, the Keystone XL would carry crude from Alberta and North Dakota to refineries in Illinois. It would then ultimately carry crude to the Gulf of Mexico coast. The environmental groups opposed the pipeline vehemently resulting in a tug-of-war over the issue of its approval, between the Democrats and the Republicans. After seven years of the proposal of the pipeline, in November 2015, President Obama rejected it.
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Oshidori International exits Japanese casino race, citing serious ethical irregularities
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain