One of the major policy decisions facing U.S. President Barack Obama is whether or not to approve the Keystone oil pipeline across the Canadian border into the United States.
If approved, the pipeline - to be built by TransCanada (NYSE: TRP) - would transport about 1.3 million barrels of oil a day from Canada's oil sands to refineries along the Gulf coast.
The Keystone oil pipeline, if approved, would benefit U.S. energy security. Not to mention TransCanada and players in the Canadian oil sands industry such as Suncor Energy (NYSE: SU).
This decision is one investors in the energy sector need to pay attention to as it will set the tone for energy policy in President Obama's second term.