The fate of the Keystone XL pipeline got even cloudier yesterday (Monday) when TransCanada Corp. (NYSE: TRP), the company that wants to build it, asked the U.S. Department of State to suspend its permit application.
But for all the fiery rhetoric in Washington, does the fate of the Keystone pipeline - one way or the other - make that much of a difference?
Most of what really matters rarely gets discussed. Here's what you need to know...
The fate of the Keystone XL pipeline got even cloudier yesterday (Monday) when TransCanada Corp. (NYSE: TRP), the company that wants to build it, asked the U.S. Department of State to suspend its permit application.
But for all the fiery rhetoric in Washington, does the fate of the Keystone pipeline - one way or the other - make that much of a difference?
Most of what really matters rarely gets discussed. Here's what you need to know...
TransCanada Corp. (NYSE: TRP) stock has become synonymous with the Keystone pipeline. That's because it's the most drawn out controversy in the history of North American oil production.
But the Keystone XL is irrelevant when considering whether to buy TRP stock. In fact, TRP stock is poised to gain handsomely in the near future - XL or no XL.
Here's why it's a buy right now...
A narrow defeat of the Keystone XL pipeline in the Senate yesterday (Tuesday) is a setback for the project, but a minor one.
The tally was 59-41, just one vote shy of the 60 needed to pass. But the Republicans have vowed another Keystone pipeline vote next year when they have the numbers to pass the bill. Then it will be up to President Barack Obama, who many assume will veto the $8 billion project.
But President Obama may have other ideas...
Republican control of the U.S. Senate has made approval of Keystone pipeline imminent.
The controversial $8 billion project, skillfully delayed for years by President Barack Obama, would transport oil sands crude from Canada to refineries on the U.S. Gulf Coast.
TransCanada Corp. (NYSE: TRP), the company building the Keystone XL pipeline, would be the greatest beneficiary of its approval, of course. But dozens of other companies also figure to gain from the project.
Now's the time to jump on these stocks...
