Keystone XL Pipeline Decision To Be Made Soon

Ater five years, it appears the Obama administration will soon issue a decision on whether to build the long-delayed and controversial Keystone XL oil pipeline, which would cross an environmentally sensitive area of the Great Plains and move nearly a million barrels of oil a day to Gulf Coast refineries.

Backers of the project say it would stimulate the U.S. economy and enhance energy security, stressing that a new pipeline is the cheapest, safest way to transport dirty tar-sands crude from Canada’s booming oil fields to U.S. refineries.

Environmentalists, who earlier this month chained themselves to the White House fence in protest, counter that it would endanger the water supply in several states and exacerbate climate change. They want to stop or slow the exploitation of an energy source the Sierra Club calls “the most toxic fossil fuel on the planet.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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