FOR IMMEDIATE RELEASE February 15, 2018
Jane Kleeb of Bold Alliance Responds to Silence From TransCanada on Final Investment Decision for Keystone XL Project
Lincoln, NE — Bold Alliance president Jane Kleeb issued the following statement in response to silence from TransCanada today towards its investors, regarding a final investment decision on whether or not the company plans to move forward with its controversial Keystone XL pipeline project.
“TransCanada promised Nebraskans they would make a final decision on Keystone XL in 2017. Here we are into 2018 and still no final word. Nebraskans do not need or want this pipeline. Farmers want to get back to producing food. If the demand was there, the pipeline would have been built years ago. The pipeline has been dead for years — TransCanada seems to be the only ones hanging on to a project with no future,” said Bold Alliance president Jane Kleeb.
TransCanada held its fourth-quarter earnings call for investors today, but did not issue any final investment decision on whether it will move forward with Keystone XL. The pipeline company had estimated that it would make its determination last December, but has since indicated that it could make the announcement by the end of the first quarter 2018 (March 31).
Also today, Bold and allies released an investor briefing on the current state of the Keystone XL pipeline project and the legal, regulatory, and political obstacles it continues to face to achieve completion. The briefing was shared with key lenders and thought-leaders who cover TransCanada and comes in advance of the company’s earnings call today. The briefing includes a detailed analysis of the changes the Keystone XL pipeline project incurred during the last financial quarter, as well as a list of critical questions institutional investors may wish to ask to help determine the project’s commercial viability.
Among the major risks to the Keystone XL project included in the briefing are:
· The legal challenge to the validity of the Nebraska Public Service Commission (PSC) decision approving the alternate route for the pipeline;
· The 2014 federal Final Supplemental Environmental Impact Statement (FSEIS) that does not cover the project’s new approved route;
· The more than 100 landowners in Nebraska who refuse to sign over their land for the new route; and
· The escalating Indigenous and landowner opposition to the pipeline, including its threat to drinking water.
Read the briefing in its entirety here
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