Keystone Pipeline XL Took a Huge Step Towards Being Built

In a statement on Thursday, TransCanada Corp. has announced that there is enough interest from other oil companies to go forward with the Keystone XL oil pipeline if the company decides to build it, according to Fortune.

The Canadian-based company claimed that they secured enough commitments to ship 500,000 barrels a day for 20 years.

TransCanada Corp.’s decision follows a 3-2 vote by the Nebraska Public Service Commission to approve a pipeline route through the state, but not the one the company preferred.


The pipeline would ship approximately 830,000 barrels of crude a day from Alberta, Canada through the states of Montana, South Dakota, and Nebraska, where it would connect to TransCanada’s existing Keystone system.

President Donald Trump signed an executive order approving of Keystone Pipeline XL just four days after his inauguration after the Obama administration, led by Secretary of State Hillary Clinton, rejected the pipeline in November 2015.

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