(AP) — The proposed Keystone XL pipeline survived nine years of protests, lawsuits and political wrangling that saw the Obama administration reject it and President Donald Trump revive it, but now the project faces the possibility of death by economics.Low oil prices and the high cost of extracting Canadian crude from oil sands are casting new doubts on Keystone XL as executives with the Canadian company that wants to build it face the final regulatory hurdle next week in Nebraska.The pipeline proposed in 2008 has faced dozens of state and federal delays, many of them prompted by environmental groups who ultimately persuaded President Barack Obama to deny federal approval in November 2015."Frankly, in the current price climate, it's probably not going to be a going venture unless there's a massive improvement in technology" for processing Canadian crude, said Charles Mason, a University of Wyoming professor of petroleum and gas economics.Producers have also found other ways to ship oil, primarily by train, and many are reluctant to sign long-term contracts with a pipeline that wouldn't go into operation for several more years, said Jeff Share, editor of the Houston-based Pipeline & Gas Journal, a leading industry publication.Nebraska law enforcement authorities already have had discussions with their counterparts in North Dakota about how that state handled widespread protests during construction of the Dakota Access Pipeline near the Standing Rock Indiana Reservation, said Cody Thomas, a Nebraska State Patrol spokesman.If the Nebraska commission approves the route, TransCanada can initiate legal proceedings under eminent domain to gain access to the land of holdout property owners.
keystone properties group LLC
new york, new york, 10003
NYS Entity Status
NYS Filing Date
APRIL 28, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC LIMITED LIABILITY COMPANY
2014 - KEYSTONE PROPERTIES GROUP LLC
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