Oklahoma producers still optimistic about pipeline project
The Obama administration rejected the proposed Keystone XL pipeline Tuesday, but Oklahoma oil and natural gas producers hope developer TransCanada Corp. will proceed with a segment that would link the oil storage hub at Cushing with refineries along the Gulf of Mexico.
BY JAY F. MARKS •
Published: January 19, 2012
/articleid/3641489/1/pictures/1614526"> Mike Cantrell
“They don’t need a presidential permit to build pipelines in the United States of America.
“They just need a presidential permit to build an international line from Canada.”
He said the company might choose to build the U.S. portion of the pipeline to capitalize on its investment then proceed with the border crossing at a later date.
Cantrell said the full Keystone XL pipeline is a needed project.
“It is good public policy to have that pipeline into Canada, to bring Canadian crude down to the Gulf,” he said. “It just means that consumers pay less per gallon of gasoline because it’s a more efficient delivery of crude oil to the refinery.”
President Barack Obama pledged to keep working on a way to address the issues the Keystone XL project is meant to solve.