TransCanada says it will file NAFTA claim over Keystone XL denial

TransCanada says it intends to file a claim under the North American Free Trade Agreement in response to the U.S.

See Full Article

government’s rejection of the proposed Keystone XL pipeline.

In a press release Wednesday afternoon, the corporation said it filed a notice of intent to initiate a claim under Chapter 11 of NAFTA on the basis that the U.S. administration’s denial of the $8-billion project was “arbitrary and unjustified.”

According to Global Affairs Canada’s website, Chapter 11 of NAFTA “establishes a framework of rules and disciplines that provides investors from NAFTA countries with a predictable, rules-based investment climate” and dispute settlement procedures.

TransCanada has also filed a lawsuit in the U.S. Federal Court in Texas, claiming that U.S. President Barack Obama’s decision to deny construction of the Keystone XL pipeline “exceeded his power under the U.S. constitution.” The Federal Court claim also said the administration’s rejection of the pipeline conflicted with Congress’ constitutional power to “regulate interstate and international commerce.”

The company’s legal actions challenge the basis of the U.S. government’s denial of the presidential border crossing permit required for the project to go forward. The press release points out that the U.S. State Department denied the pipeline as a “symbolic gesture” based on speculation about international perceptions on the administration’s leadership on climate change, rather than the merits of the project.

“The NAFTA claim asserts that TransCanada had every reason to expect its application would be granted as the application met the same criteria the U.S. State Department applied when approving applications to construct other similar cross-border pipelines,” read the press release.

TransCanada will also aim to recover more than US$15 billion in costs and damages that it says it suffered as a result of the U.S. government’s breach of its NAFTA obligations.

With files from the Canadian Press



Advertisements

Latest Economic News

  • In signal to Trump, China, Iran say nuclear deal must stand

    Economic CTV News
    BEIJING -- The foreign ministers of China and Iran on Monday urged governments not to violate the deal that limits Iran's nuclear activity in exchange for the lifting of sanctions, in remarks apparently directed at U.S. Source
  • Italy hit by market volatility after referendum defeat

    Economic CTV News
    MILAN -- Italian voters dealt Premier Matteo Renzi a resounding rebuke early Monday by rejecting his proposed constitutional reforms, plunging Europe's fourth-largest economy into political and economic uncertainty. Renzi announced he would quit following Sunday's referendum vote, in which 60 per cent of voters rejected his proposals and signalled they wanted a change in political direction. Source
  • Alberta Premier Rachel Notley heads to B.C. on Monday, spokeswoman confirms

    Economic CTV News
    EDMONTON - A spokeswoman for Rachel Notley says the Alberta premier will visit British Columbia on Monday. Cheryl Oates confirmed the visit would occur when she was asked via text over the weekend, but did not respond to emails asking for details. Source
  • Donating can make a big difference for charity -- and your tax bill

    Economic CTV News
    TORONTO -- The last few weeks of the year are the busiest for Canadian charities with people who rush to get in their last-minute donations before the Dec. 31 deadline.Scroll down or click here to vote in our poll of the day More than 24 million Canadians gave away a total of $12.8 billion to charities in 2013, with the average gift per donor being $531, according to the most recent data from Statistics Canada. Source
  • Central banks are intrinsically conservative to keep our money safe: Don Pittis

    Economic CBC News
    Which is the best economic strategy: delayed gratification, or live for today? In the era of Donald Trump, it seems inevitable that the entrepreneurial urge to make hay while the sun shines is headed for a collision with the restraining forces of central banking. Source
  • Asian stocks tumble after Italy rejects constitutional changes

    Economic CTV News
    BEIJING - Asian shares tumbled Monday after Italian voters' rejected constitutional changes, raising questions over whether Italy will stay in the European Union and keep using the euro. KEEPING SCORE: Sydney's S&P-ASX 200 index dropped 1 per cent to 5,391.40 points and the Shanghai Composite Index lost 0.9 per cent to 3,215.30. Source
  • Global shares mixed after Italy rejects constitution changes

    Economic CTV News
    BEIJING -- Asian shares tumbled Monday while Europe opened higher after Italian voters rejected constitutional changes, raising questions over whether the country will stay in the European Union and keep using the euro. KEEPING SCORE: In early trading, Germany's DAX added 0.8 per cent to 10,599.05 points and France's CAC-40 gained 0.3 per cent to 4,542.94. Source
  • After major victory, Dakota Access oil pipeline protesters to defy deadline

    Economic CTV News
    CANNON BALL, N.D. -- Protesters celebrated a major victory in their push to reroute the Dakota Access oil pipeline away from a tribal water source but pledged to remain camped on federal land in North Dakota anyway, despite Monday's government deadline to leave. Source
  • North Dakota pipeline protesters vow to stay despite victory

    Economic CTV News
    CANNON BALL, N.D. -- Protesters celebrated a major victory in their push to reroute the Dakota Access oil pipeline away from a tribal water source but pledged to remain camped on federal land in North Dakota anyway, despite Monday's government deadline to leave. Source
  • Euro tumbles after Italy's PM resigns, loses referendum

    Economic CBC News
    The euro tumbled in early Asian trade on Monday after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution. The euro dropped 1.3 per cent to $1.0505 US, falling below its 1 1/2-year low of $1.0518 touched late last month, and testing its key support levels where the currency has managed to rebound in the past couple of years. Source