Oil Producers Skirt Keystone Snag as Obama Said Near Rejection
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The oil-sands industry is working around delays to the Keystone XL pipeline as the outlook dims for its approval any time soon.
Senator John Hoeven, a North Dakota Republican and leading congressional supporter of the $8 billion proposal, cited unidentified “sources” Tuesday in predicting President Barack Obama will reject it in August. The denial would block a project designed to ship 830,000 barrels a day of crude to Gulf Coast refineries, mostly from Canada’s oil-sands.