Recently, the Trump Administration announced they have issued a Presidential permit to TransCanada Keystone Pipeline, L.P. (“TransCanada”) authorizing TransCanada to construct, connect, operate, and maintain pipeline facilities at the U.S.-Canadian border in Phillips County, Montana, for the importation of crude oil.
The issuance of this important permit is a positive step forward for infrastructure development in America – signaling to willing investors in infrastructure that the United States is open for business. Previously, companies were forced to guess whether the government would follow the law or bend to political pressure—derailing any investment. This resulted in a highly unstable business environment where infrastructure investment, once solid – could be interpreted as a significant risk. President Trump has taken the right approach by protecting this sector investment and ensuring job-creating infrastructure projects like Keystone XL will benefit the U.S. economy for years to come.