Market Chatter: Canada's Flaherty less optimistic on Keystone prospects

By Midnight Trader,  January 25, 2013, 02:43:55 PM EDT

"U.S. President Barack Obama's emphasis in his inaugural address on fighting climate change may not bode well for the contentious project to build the Keystone XL oil pipeline, Canada's finance minister said on Friday," Reuters reported.

It said: "The Canadian government has been an enthusiastic supporter of TransCanada Corp's (TRP.TO) plan to build the $5.3 billion pipeline, which would open up a huge new market on the U.S. Gulf Coast for crude derived from oil sands in Alberta."

"I had reason for optimism before the election that the president would approve it, were he re-elected, but his speech the other day was not encouraging," Finance Minister Jim Flaherty told Reuters at the World Economic Forum in Davos."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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