TransCanada Corp. filed a case against the US government to reverse President Barack Obama’s decision to reject Keystone XL pipeline, and sought $15 billion in damages from a trade tribunal as well.
The US president rejected the creation of the crude oil pipeline in November, saying it won’t make a considerable long-term contribution to the American economy.
Their lawsuit, filed in a federal court in Houston, Texas, stipulated the rejection of its permit to construct the pipeline is unconstitutional. The Canadian company, in a separate action under the North American Free Trade Agreement, said the denial was arbitrary and unjustified.
TransCanada is not asking for monetary damages, but wants to invalidate the permit denial and seek a ruling that no future president can halt construction.
The material has been provided by InstaForex Company – www.instaforex.com