With a second
four-year term now secure, most in the global hydrocarbon processing industry (HPI)
expect the Obama administration to ultimately approve the
controversial Keystone XL pipeline system.
Out of hundreds of votes cast, 68% believe the US president
will give the green light to TransCanada to build the expanded
system, which could connect the US Gulf refining base with crude oil feedstock from Canadian oil
The president previously denied TransCanada the Keystone XL permit
in January 2012, citing an arbitrary deadline from Republicans.
Several political pundits said Obama might have also been
apprehensive about going against demands of the wealthy environmental lobby during
Obama then asked TransCanada to reapply with an alternate
route to avoid the Sand Hills in Nebraska, an important aquifer
in the region. The revised route was recently reviewed and largely approved by
state environmental regulators, though the
US State Department is conducting its own review as well.
The proposed system would result in a 1,700-mile oil
pipeline stretching from Canada to Texas, carrying nearly 1
million bpd of oil.
TransCanada says it expects to receive a permit from the US
government by the end of the 2013 first quarter. If that
happens, the project could be completed and
started up by early 2015.
To see more details on this poll as well as access prior
Hydrocarbon Processing poll results,
(Editors note: Polls are where we
at Hydrocarbon Processing gather industry
sentiment on significant issues of the day. Visit the HP home
page to weigh in on our latest poll regarding safety in Arctic oil
and gas projects.)