Media Advisory: TransCanada Welcomes More Bipartisan Congressional Support for Keystone XL Pipeline Project
Thirty Members of the U.S. House of Representatives Led by Congressman Connie Mack Join Together to Voice Support for Vital, Shovel-Ready Pipeline Project
WASHINGTON, DC--(Marketwire - Feb. 11, 2011) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today secured support for the Keystone XL pipeline project from 30 Members of the House of Representatives. In a letter to Secretary of State Hillary Rodham Clinton, 30 Republicans and Democrats from 18 states encourage Secretary Clinton to provide the approvals required to move this vital project forward.
The Keystone XL Project's application for a Presidential Permit has been under review since 2008. In their letter to Secretary Clinton, the bipartisan group of 30 House members called the Keystone XL Project
"…an extraordinary opportunity to put Americans back to work, invest billions into the economy, and improve the security of this nation. Further delays in the approval process will continue to jeopardize this project's realization."
The letter supporting the Keystone XL pipeline project was initiated by Congressman Connie Mack (FL-14th) in his role as chair of the House Subcommittee of Western Hemisphere. The letter supports the fact and growing recognition that Keystone XL will provide:
The House members noted in their letter that the Keystone XL Project "is not only a matter of national interest; it is a matter of national security…As the largest consumer of petroleum products in the world, we currently depend on foreign imports for more than half of our petroleum usage. Dependence on foreign oil has created difficult geopolitical relationships with damaging consequences for our national security."
Urging Secretary Clinton to make the Keystone XL Project a priority and to approve the necessary permit as soon as possible, the group of House members concluded the letter by noting that "as the price at the pump continues to climb, America needs to look to reliable oil producing countries that don't force us to compromise our ideals and national security. Canada is already our largest supplier of oil, a responsible and reliable partner in energy, and a friendly and democratic government that shares the values and ideals of the United States. TransCanada's Keystone XL Project represents a chance to reduce dependence on foreign despotic governments, improve our national security, and strengthen ties with an important ally."
The bipartisan group of 30 House members who signed the letter to Secretary Clinton represent 18 states across the country and serve on the following committees in the U.S. House of Representatives are:
With more than 50 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 60,000 kilometres (37,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com.
To read the full letter from members of the U.S. House of Representatives sent to Secretary Clinton, please open this embedded link. http://media3.marketwire.com/docs/211tcp.pdf.
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