Alberta Premier Jim Prentice says a Nebraska Supreme Court ruling will help move the Keystone XL pipeline project forward, but warned the political process to approve the pipeline is still far from over.
"I think it remains to be seen how this plays out in the United States," said Prentice, speaking in Calgary. "From my perspective, the project should be approved. It will create jobs, it’s an environmentally-defensible project, it’s supported by the American people.”
Prentice said he will travel to Washington, D.C., in February to support the project.
Prentice's comments come after Keystone XL overcame a legal hurdle in Nebraska, clearing the way for U.S. President Barack Obama to approve or reject the controversial project.
A U.S. State Department review of Keystone XL had been put on hold while the Nebraska Supreme Court decided on a lawsuit brought by Nebraska landowners. That review process will now resume, resulting in a recommendation to the president, who has the final say on whether the pipeline can be built.
Earlier on Friday, legislation supporting Keystone XL was passed in the Republican-controlled House of Representatives.
Obama has said he will veto any bill in favour of Keystone XL, but he could change his mind if Senate amendments align with his own priorities.
In a conference call with reporters, TransCanada CEO Russ Girling said his company was "very pleased" with the Nebraska court ruling.
Even so, given the downward progress displayed recently by energy companies, TransCanada shares began the session at $54.25, down $1.09, or nearly 2%, within a 52-week range of $47.14 to $63.86.
