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Keystone XL survived politics but economics could kill it

LINCOLN, Neb. (AP) — Low oil prices and the high cost of extracting Canadian oil are casting new doubts on the Keystone XL pipeline as project developer TransCanada faces its final regulatory hurdle in Nebraska.

After nine years of protests, lawsuits and political wrangling that saw the Obama administration reject Keystone XL only to have President Donald Trump revive it, the economics of the project have worsened. Shippers have also found other ways to transport oil.

Project opponents say they're not letting their guard down and will continue to protest.

Officials with Calgary-based TransCanada will try to persuade the Nebraska Public Service Commission to approve the pipeline during a series of hearings that start Monday. The company says it will decide whether to proceed with the pipeline in late November or early December.

 

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