Last Friday, President Obama announced his decision to deny TransCanada Corporation its permit to construct the Keystone XL pipeline.
Not only did the President disappoint manufacturers across the country, but he also made a historic mistake. After seven years of waiting for a decision on this permit application, this decision is a clear signal that the United States isn’t open for business for everyone. It also undermines the existing permitting process—one that is supposed to set clear rules of the road for companies to meet to secure approval. The Administration continually raised the bar for approval of Keystone XL, and every time TransCanada met (or exceeded) it, the Administration raised it again. (continue reading…)