House passes Keystone bill
Source: REUTERS
The Republican-led U.S. House of Representatives approved the Keystone XL pipeline on Friday, but a similar measure struggled to get enough support in the Senate and President Barack Obama indicated he might use his veto if the bill does get through Congress.
The legislation, approved by 252 votes to 161, circumvents the need for approval of TransCanada Corp's (TRP.TO) $8 billion project by the Obama administration, which has been considering it for more than six years.
House lawmakers were confident the Senate would follow suit and pass its version of the bill.
The bill's sponsor, Republican Representative Bill Cassidy from Louisiana, said before the vote the House would make it "as easy as possible for the Senate to finally get a bill to the president's desk that approves this long-overdue Keystone XL pipeline."
snip: The congressional bills have highlighted both the importance of the pipeline to Louisiana, whose economy is heavily oil-dependent, and the fact that Obama cannot count on full support from members of his Democratic Party on some issues.
Democratic Senator Mary Landrieu, the head of her chamber's energy committee, is co-sponsoring the Keystone bill in the Senate with Republican John Hoeven of North Dakota. She is battling to retain her Senate seat in a runoff election against Cassidy on Dec. 6, after last week's midterm elections.
Read more: http://www.reuters.com/article/2014/11/14/us-usa-keystone-idUSKCN0IY1W520141114
Kochs stand to make $100 billion on the 1+ million leases held in Canada. They have invested millions in the last election & are expecting those purchased politicians to perform accordingly.
(cross post from LBN)
