The much discussed Keystone XL pipeline could be moving closer to reality.
Developer TransCanada Inc. has submitted a new route through Nebraska for the 1,200-mile pipeline, which would carry crude oil through Oklahoma from Canada to refineries on the Gulf Coast.
President Barack Obama rejected TransCanada’s bid for a permit for the transcontinental pipeline in January after Republicans had set a deadline for the decision. The major stumbling block for the project at that time was its route through Nebraska’s fragile Sand Hills.
TransCanada subsequently announced plans to build the southern portion of the pipeline, from the oil storage hub at Cushing to the Gulf Coast, but industry officials have continued to urge the Obama administration to allow the full project to proceed.
Devon Energy Corp. CEO John Richels said Tuesday at the Oklahoma State University of Energy Conference that Obama should make the right decision on Keystone XL, rather than listening to his political advisers.
The new pipeline route seemingly puts the ball back in the president’s court.