TransCanada wants $15 billion from U.S. for not building pipeline
Patrick Woodell at Common Dreams reports that TransCanada wants the money because of the refusal of the U.S. to build the Keystone pipeline.
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After an intense grassroots campaign by environmentalists, farmers, landowners and local governments, President Obama blocked the pipeline that would have delivered high-carbon oil from Canadian tar sands because it undermined U.S. efforts to fight climate change. But TransCanada is now using North American Free Trade Agreement (NAFTA) investment rules to sue the federal government for rejecting the pipeline, demanding $15 billion dollars in repayment for anticipated profits it expected from the project.
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D.B. Hirsch is a political activist, news junkie, and retired ad copy writer and spin doctor. He lives in Brooklyn, New York.