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

  • British Airways cancels flights amid global computer outage

    Economic CTV News
    LONDON -- British Airways cancelled all flights from London's Heathrow and Gatwick airports Saturday as a global IT failure caused severe disruption for travellers on a busy holiday weekend. The airline said it was suffering a "major IT systems failure" around the world. Source
  • Computer outage grounds hundreds of British Airways flights in London

    Economic CTV News
    LONDON -- British Airways cancelled all flights from London's Heathrow and Gatwick airports on Saturday as a global IT failure upended the travel plans of tens of thousands of people on a busy U.K. holiday weekend. Source
  • British Airways outage spurs London travel chaos; power issue blamed

    Economic CTV News
    LONDON -- British Airways cancelled all flights from London's Heathrow and Gatwick airports on Saturday as a global IT failure upended the travel plans of tens of thousands of people on a busy U.K. holiday weekend. Source
  • Broker, agent who worked with subsidiary of Home Capital disciplined

    Economic CBC News
    An Ontario regulator says it has imposed disciplinary actions against a mortgage broker and agent who worked with Home Trust Co., a subsidiary of Home Capital Group, over their handling of mortgages. The Financial Services Commission of Ontario (FSCO) says it conducted a review of 45 mortgage brokers and agents that Home Capital cut ties with after they were accused of falsifying income information several years ago. Source
  • Calgary man on lam in Mexico sentenced to 3 years in $27M mortgage fraud

    Economic CTV News
    CALGARY -- A Calgary man who was arrested after being on the lam for two years in Mexico for his part in a $27 million mortgage fraud has been sentenced to three years in prison. Source
  • Nortel Canada to start paying billions to creditors

    Economic CBC News
    Nortel Canada's long-suffering creditors will finally begin to receive their share of more than US$4 billion to be distributed under a plan approved in January, eight years after the former technology titan began bankruptcy proceedings. Nortel Networks Corp. Source
  • Nortel Canada to start paying billions to creditors; first instalment by July

    Economic CTV News
    TORONTO - Nortel Canada's long-suffering creditors will finally begin to receive their share of more than US$4 billion to be distributed under a plan approved in January, eight years after the former technology titan began bankruptcy proceedings. Source
  • Que. construction strike: Day 3 kicks off with little to show at bargaining table

    Economic CTV News
    MONTREAL -- There is little progress to report at the table as Quebec's construction strike enters Day 3. Eric Cote, a spokesman for one association of employers, says negotiations resumed late Thursday and that representatives for his group emerged early today suggesting they were a waste of time. Source
  • Ford's ex-CEO leaves company with $51.1M US

    Economic CBC News
    Ford's former CEO Mark Fields is leaving the company with an estimated $51.1 million US in cash, stock awards and pension benefits. Fields, 56, retired earlier this week after three years as CEO. Ford made record profits during his tenure but its stock price dropped nearly 40 per cent on investors' concerns about the company's future. Source
  • Ford's ex-CEO leaves company with US$51.1 million

    Economic CTV News
    DETROIT -- Ford's former CEO Mark Fields is leaving the company with an estimated US$51.1 million in cash, stock awards and pension benefits. Fields, 56, retired earlier this week after three years as CEO. Source