Trump Signs Executive Orders Renegotiating Keystone XL, Dakota Access Pipelines

Tyler Durden's picture

Update: it's official, Trump has signed executives orders to advance the construction of the controversial Keystone XL and Dakota Access pipelines, according to which the US will renegotiate terms on the two pipelines.

As part of the announcement Trump said "if the US build pipelines, the pipes shoudl be made in the US" and added that "order streamlines cumbersome manufacturing regulations." He called the regulatory process a "tangled up mess."

Trump told reporters in the Oval Office that the moves on the pipelines will be subject to the terms and conditions being renegotiated by the U.S.

President Barack Obama killed the proposed Keystone XL pipeline in late 2015, saying it would hurt American efforts to reach a global climate change deal. The pipeline would run from Canada to U.S. refineries in the Gulf Coast. The U.S. government needs to approve the pipeline because it crossed the border.

The Army decided last year to explore alternate routes for the Dakota pipeline after the Standing Rock Sioux tribe and its supporters said the pipeline threatened1 drinking water and Native American cultural sites.

* * *

According to Bloomberg's FX strategist, Vincent Cignarella, the announcement should be favorable for the USD/CAD in the short term.  According to him, "the U.S. economy would get an immediate benefit from construction of the project, while Canada would not gain from oil exports for at least 5 years, FX traders in Toronto said."

Keystone project could add as many as 42,000 jobs, according to a U.S. State Department estimates.  Keystone could help support market share but would likely exacerbate oil pricing issues, according to TD’s Mark McCormick said. In the same view, producers are unlikely to make new investments, which is key for the revival in economic growth, until oil can hold a $70-80/bbl range for a few years.

Earlier:

It is just day two of his presidency, and already Trump is taking a sledgehammer to the Obama legacy: in his latest move reported moments ago by Bloomberg, president Trump intends to sign two executive actions today that would advance construction of the controversial Keystone XL and Dakota Access pipelines, putting a spoke, so to say, in the train wheels of Warren Buffett's train-based oil transportation quasi-monopoly.

The orders would fulfill campaign promises Trump made to approve both pipelines, which face strong opposition from Democrats and environmentalists, but ardent support from the oil industry and the GOP. The White House said Trump plans to sign executive orders at 11 a.m. Tuesday morning, but did not provide more details, nor did it respond to the Bloomberg report.

It’s unclear what exactly the orders would do and whether they would fully approve the pipelines or take some other steps in that direction.

If fully built by developer TransCanada Corp., Keystone would run from Alberta, Canada’s oil sands to the Gulf Coast in Texas, bringing heavy oil sands petroleum to refineries. Last month, the Obama administration ordered a comprehensive environmental impact statement to be conducted on the Dakota Access Pipeline before any decision could be made on building its final section below Lake Oahe in North Dakota.

Dakota Access has been the subject of internationally recognized protests that have fired up environmentalists and indigenous rights activists. They say that the pipeline threatens the water supply of the Standing Rock Sioux tribe, and further development of oil infrastructure threatens the climate.

More details from Bloomberg:

Keystone was rejected under former President Barack Obama. Trump’s move on Energy Transfer Partners LP’s 1,172-mile Dakota Access project aims to end a standoff that has stalled the $3.8 billion project since September, when the Obama administration halted work on land near Lake Oahe in North Dakota.

 

The moves, taken on Trump’s fourth full day in office, mark a major departure from the Obama administration’s handling of the controversial oil pipelines. The steps vividly illustrate Trump’s plan to give the oil industry more freedom to expand infrastructure and ease transportation bottlenecks.

The two projects require different approvals. Keystone needs a presidential permit to build across the Canadian border, while Dakota Access, developed by Energy Transfer Partners, needs an Army Corps of Engineers easement to build under Lake Oahe.

Expect an angry reaction from Buffett, which will promptly flow through to funded environmental protest groups, who will double down in their defense of the two pipelines, of which the Dakota Access was the prominent center of media attention in the waning days of Trump's presidency.

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BabaLooey's picture

Give that man a case of pens!

peddling-fiction's picture

A pipeline is always more efficient than a railroad, if the volume is large enough.

Is it best for America?

YES, it is.

Forward.

Sign.

prefan4200's picture

An elected leader (I would not insult Trump by calling him a politician) who is doing exactly what he said he was going to do.  Fucking awesome !!

peddling-fiction's picture

It is not so hard.

Maybe it's dangerous.

Joe Davola's picture

Editorial note:  should that be "waning days of Obama's time in Washington"  (hard to really call it a presidency)

Troll Magnet's picture

Trump should keep signing these exec orders until he bankrupts Soros.

boattrash's picture

My thoughts on Soros are more like this...Black OPs, dirtnap, trial (post-mortem), seize assets under RICO, and celebrate.

legalize's picture

How long do you think Barry will be able to keep his mouth shut and not start bitching?  I give him a week.

Majestic12's picture

Idiots.

These pipelines ship "Canadian" oil...PASSED Midwest refiners to Texas refiners!

It is fucking inside Big Oil job all spummed all over working America...again.

There won't be "jobs" created from pipelines with robotic welding and Canadian steel.

How many engineers need work?

Mid west refineries need supply. Fuck Texas elites!

Majestic12's picture

Idiots.

These pipelines ship "Canadian" oil...PASSED Midwest refiners to Texas refiners!

It is fucking inside Big Oil job all spummed all over working America...again.

There won't be "jobs" created from pipelines with robotic welding and Canadian steel.

How many engineers need work?

Mid west refineries need supply. Fuck Texas elites!

Jethro's picture

It would be cheaper to just put a bounty on him and his family.

kellys_eye's picture

A fatwa perhaps?

Lesser things have been faked.

Sages wife's picture

Here comes all that MSM coverage that DAPL was so desperate for.

Majestic12's picture

Idiots.

These pipelines ship "Canadian" oil...PASSED Midwest refiners to Texas refiners!

It is fucking inside Big Oil job all spummed all over working America...again.

There won't be "jobs" created from pipelines with robotic welding and Canadian steel.

How many engineers need work?

Mid west refineries need supply. Fuck Texas elites!

boattrash's picture

"It would be cheaper to just put a bounty on him and his family."

I thought about that, but decided that waaaay too many Americans (including myself) would quit work and start full time hunting.

Took Red Pill's picture

that's what I was thinking too. Buffet invested heavily in the trains to carry oil. Now will get burned.

JRev's picture

"Begun, the Pipeline Wars have..."

Domestic production beats the hell outta bombing people for some TurkStream bullshit. Hope it continues this way.

Majestic12's picture

Idiots.

These pipelines ship "Canadian" oil...PASSED Midwest refiners to Texas refiners!

It is fucking inside Big Oil job all spummed all over working America...again.

There won't be "jobs" created from pipelines with robotic welding and Canadian steel.

How many engineers need work?

Mid west refineries need supply. Fuck Texas elites!

mtndds's picture

Dude is getting shit done!!  Sometimes you have to twist the nuts on a bull to get it to jump! Golf clap, Golf clap!!

neidermeyer's picture

I like the cut of your jib sailor.

Chris Dakota's picture

This needs to happen or the Trump admin will be destroyed.

 

Moe Hamhead's picture

I can see the spelling "xythras", but how do you pronounce it ---"Jack-Ass"?

HockeyFool's picture

Is this all you do all day? And quit with the spam link, okay? It has crashed my computer multiple times. Everyone saw that video several days ago. Its old news.

boattrash's picture

Yep, that site (different article) locked my computer up tighter than a gnat's ass over a boxcar.

xythras's picture

Buy a new  better one. For god sake, follow the Trumponomics

boattrash's picture

"Buy a new  better one. For god sake, follow the Trumponomics"

No thanks. I've been cured of the "disease" known as consumerism.

SoilMyselfRotten's picture

He just gave the Koch brothers a hard on

BabaLooey's picture

Hey...Linkolopolous.....your jacklink seized up my shiny new super computer last week, when I accidently clicked it.

So take your dailyloserville site and peddle it over at The Dailay Cooze.

mkkby's picture

Blooy, you need firefox or chrome with the NoScript plugin.  Stops all those scripts that tie up your computer and make pages take a long time to load.

TheMeatTrapper's picture

You should post your address so we can send you and your libtard buddies some butt lube - you're going to need a barge load of it over the next 8 years. lol. 

Kayman's picture

Standing Rock band tells protesters to leave.  Catch up on the facts.

And you better check on whether that withered old "useful idiot" has children or grandchildren before you start calling her a "gradma".  Unless the old shoe sitting on the seat beside her was her child.

Byte Me's picture

"..was the prominent center of media attention in the waning days of Trump's presidency."

FFS Tyler - at least run it through a logic checker.

balolalo's picture

YAY!!!

fuck the planet!!!

woo hoo!!!

 

VinceFostersGhost's picture

 

 

The planet will be here long after you're gone......and so will the polar bears.

froze25's picture

Damn, skippy. As we all know the Sun determines our climate and how it changes. I am far more worried about asteroids as they have been Proven to cause calamity of the environment. GMO's are proven to produce food that is harmful to the environment and those that consume it. Fight for something that is a real threat.

Han Cholo's picture

Not just the Sun. The Earth has a 100,000 year "wobble"; as well, our solar system is bouncing about and below the galactic plain exposing said ssytem to more or less radiation depending on position. "Space" and all that it has to offer is a nasty bitch to use humans.

Firestorme's picture

Let's not forget nuclear winter, which is what we were in for had the libtards succeeded in getting the witch elected.

balolalo's picture

ignorance, naivete, short sightedness

the planet will be here.  but not much on it. 

https://en.m.wikipedia.org/wiki/Holocene_extinction

 

shovelhead's picture

That should make the leftys happy.

Diplodicus Rex's picture

And what, precisely, is wrong with that?

Bank_sters's picture

The planet is going to be fine, cabron.   It has withstood asteroids, volcanoes, earthquakes, tectonic shifting, warming, cooling over and over and over.  You and your effete twinks won't be so fine if you can't buy your petroleum based azz lube.  The horror.

wren's picture

Don't ruin their pity/scare tactics, it's all they have left.

SoilMyselfRotten's picture

Why not let every other country, in their race to get oil share, extract as much as they can, guaranteeing cheap oil while we leave our resource untapped until we truly need ? That would be a true conservatives stance.

American Psycho's picture

"The planet is fine.  The people are fucked."  George Carlin