Canadian ambassador says oil will ship with or without Keystone XL pipeline
Canada's Ambassador to the United States says Albertan oil will be shipped to market regardless of whether the Keystone XL pipeline is approved, reports Bloomberg.
While at a Bloomberg Government event in Washington, DC, on Wednesday, Gary Doer said he agreed with the US State Department that stopping the TransCanada Corp. (TSE: TRP) project would not prevent bitumen from the oil sands being delivered to market.
He said the heavy crude oil will be sent by train or truck to the US and then on to Asia. In fact, it is already being transported by train to the US.
The Keystone pipeline will reduce costs and would generate less carbon dioxide emissions than other forms of transportation, Doer said.
The US State Department is reviewing the application to construct the $5.3 billion project that would connect Alberta with Nebraska.