TransCanada has filed a lawsuit over the decision to deny the Keystone XL pipeline


Locutus
+1
#1  Top Rated Post
CALGARY –

TransCanada Corp. has filed a US$15 billion lawsuit against the United States government over its rejection of its Keystone XL pipeline.

“Through the NAFTA claim, TransCanada will be seeking to recover more than US$15 billion in costs and damages that it has suffered as a result of the U.S. Administration’s breach of its obligations (under the North American Free Trade Agreement),” the company said in a release.

The Calgary-based pipeline company announced Wednesday that it had filed a lawsuit in Houston, claiming that U.S. President Barack Obama’s “decision to deny construction of Keystone XL exceeded his power under the U.S. constitution.”

In addition to the constitutional challenge, TransCanada has also filed a claim under the NAFTA arguing that the basis for “the denial was arbitrary and unjustified.”

TransCanada also announced that it expects to post a record non-cash charge of between $2.5 billion and $2.9 billion in its earnings statement as a result of the pipeline’s rejection.

The company also said it invested some $4.3 billion in the project before Obama denied the pipeline’s application on Nov. 6, 2015.


TransCanada Corp files US$15-billion lawsuit against U.S. government for rejecting Keystone XL
 
captain morgan
#2
Cancelling KXL is the best thing for CDN oil & gas.... This is really a favor from Obama
 
mentalfloss
#3
Extra salty.
 
captain morgan
+1
#4
You be butt hurtin on this, eh?

Sorry bud, maybe next time
 
mentalfloss
#5
 
Cliffy
#6
Free Trade...hahahahaha. Doesn't the US owe Canada billions for bad decisions and refuses to pay. Good luck collecting if TransCanada wins.
 
Walter
#7
Right on. Sue BHO's azz.
 
captain morgan
#8
Quote: Originally Posted by Cliffy View Post

Free Trade...hahahahaha. Doesn't the US owe Canada billions for bad decisions and refuses to pay. Good luck collecting if TransCanada wins.

If TCPL were to get the judgement in their favour, they could potentially collect their payment by virtue of withholding the taxes they pay to the IRS.

Don't know if the above is possible, but it sure would be interesting to watch
 
mentalfloss
#9
Quote: Originally Posted by Walter View Post

Right on. Sue BHO's azz.

They should be suing us for making them believe it was a no brainer.

I mean it makes as much sense at this point.
Last edited by mentalfloss; Jan 7th, 2016 at 03:59 PM..
 
tay
+1
#10
Yesterday (June 24, 2016), TransCanada filed its NAFTA “arbitration” request arguing the U.S. violated its "expectations" and now should pay over $15 billion for rejecting a permit for the Keystone XL pipeline. It is NAFTA's private tribunal system (investor-state dispute settlement or ISDS) that will "arbitrate", a system not accountable to our legal system, and one authorized under the proposed Trans-Pacific Partnership (TPP). If the host country "violates" rights granted to the corporation under a trade agreement, then the investor may bring the matter before an "arbitration tribunal."

The ISDS is a new legal system for only foreign investor/corporations, it is not available to "nations, domestic investors, or civil society groups alleging violations of treaty obligations." ISDS panels do not have to follow legal precedent and its decisions cannot be appealed to a court.

The ISDS arbitrators are not public servants , but "highly paid corporate lawyers [who] go back and forth between representing corporations one day and sitting in judgment the next" in secret proceedings .
 
Angstrom
#11
Quote: Originally Posted by Locutus View Post

CALGARY –

TransCanada Corp. has filed a US$15 billion lawsuit against the United States government over its rejection of its Keystone XL pipeline.

“Through the NAFTA claim, TransCanada will be seeking to recover more than US$15 billion in costs and damages that it has suffered as a result of the U.S. Administration’s breach of its obligations (under the North American Free Trade Agreement),” the company said in a release.

The Calgary-based pipeline company announced Wednesday that it had filed a lawsuit in Houston, claiming that U.S. President Barack Obama’s “decision to deny construction of Keystone XL exceeded his power under the U.S. constitution.”

In addition to the constitutional challenge, TransCanada has also filed a claim under the NAFTA arguing that the basis for “the denial was arbitrary and unjustified.”

TransCanada also announced that it expects to post a record non-cash charge of between $2.5 billion and $2.9 billion in its earnings statement as a result of the pipeline’s rejection.

The company also said it invested some $4.3 billion in the project before Obama denied the pipeline’s application on Nov. 6, 2015.


TransCanada Corp files US$15-billion lawsuit against U.S. government for rejecting Keystone XL

 
taxslave
#12
Any chance of our union getting in on this since it is costing us thousands of jobs laying pipe? I'll settle for 1% of what Trans Canada gets.
 
Durry
+1
#13
This could take years to sort out and finalize.
 
Ron in Regina
#14
Quote: Originally Posted by Durry View Post

This could take years to sort out and finalize.

The softwood lumber dispute has been going on for
about 40 years now, so far.....