TransCanada: What's Next After The Looming Presidential Veto Of Keystone XL Pipeline?

This article was firstly published by Seeking Alpha on February 3, 2015

By Sarfaraz A. Khan, Research Asst. Adnan Mushtaq

TransCanada's Future Isn't Wrecked by Defeat of Keystone XL

This article was originally published by TheStreet on November 19, 2014.

By Sarfaraz A. Khan

NEW YORK (TheStreet) -- The fate of TransCanada's (TRP) controversial Keystone XL pipeline is still in limbo as the U.S. Senate rejected by just one vote a bill seeking approval to begin construction. But the defeat in the Senate isn't the end of the world for Canada's second-biggest pipeline maker.

The Calgary-based company has been waiting for six years for approval from U.S. policy makers on the project, which aims to ship up to 830,000 barrels of heavy oils a day produced from Canadian tar sands to the refineries at the U.S. Gulf Coast. Had the Senate approved the pipeline, President Obama, who was not in favor of the approval until the State Department completed its review, could still have vetoed the legislation.