US North Dakota – Canada Oil Pipeline Approved

Sen. John Hoeven of North Dakota said in a press release Tuesday the State Department has approved construction of the line, which “will inject $300 million into the U.S. and Canadian economies (and) expand the market for North Dakota.”

The completed 430-mile line will carry ethane natural gas from Tioga, N.D., to Empress, in the Canadian province of Alberta.

The ethane from North Dakota will be used to produce plastics, rubber, detergents and other products to chemicals facilities in Alberta.

Hoeven, a Republican, said he had worked to advance the Vantage project since the fall of 2010, when Vantage applied to the State Department.

The line is “another major piece of infrastructure” to help the U.S. build its energy security with “our closest friend and ally Canada,” Hoeven said in the media release.

MarketWatch

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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu