Keystone XL lobbyists are targeting moderate Democratics in Washington in advance of a decision on the $5.3 billion project.
The Canadian Association of Petroleum Producers will travel to the U.S. capital next month to promote TransCanada Corp.’s plan to carry Alberta oil-sands crude to Gulf Coast refineries. A decision by President Obama on the pipeline is expected this year.
CAPP President David Collyer said in a telephone interview last month his organization will target “primarily on what I would characterize as moderate Democrats, those who are perhaps on the fence, ho are perhaps looking for more information as to what will inform their decision,”
According to Cormark securities Keystone approval may boost Canadian energy stocks ~20 percent on the premise of an easing glut of crude. Rejection would further cloud prospects to find outlets for the rising production from oil sands.
Alberta output will increase to 3.8 million barrels a day by 2022, double that of a decade earlier, according to Alberta’s Energy Resources Conservation Board regulator.
Source: Bloomberg News