Keystone Company Sues Obama Administration For Blocking XL Pipeline

Posted by NYSE Post: Taylor Ball on January 9th, 2016
NYSE Post: The federal suit, which does not seek legal damages, wants the permit denial invalidated. "TransCanada asserts the administration's action was contrary to Congress' power under the U.S. Constitution to regulate interstate and worldwide commerce", the company said. TransCanada is also seeking $15bn in damages in sunk costs for the project, in a separate claim under the North American Free Trade Agreement (NAFTA). "The TPP would empower many more fossil fuel companies to follow TransCanada's......

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