Canada’s Oliver Says Keystone Would Improve U.S. Energy Security

Canadian Natural Resources Minister Joe Oliver said TransCanada Corp. (TRP)’s Keystone XL pipeline would give the U.S. a more stable supply of energy and didn’t comment on whether it would be approved.

“This project will replace oil from Venezuela and the Middle East with a stable continental supply, including from the oil sands and improve the energy security of North America,” Oliver told reporters in Toronto today. Keystone would also “create tens of thousands of jobs on both sides of the border,” he said.

The U.S. State Department today reported on the pipeline and made no specific recommendation on the project, which was modified after President Barack Obama blocked the original path on concern it posed a threat to a Nebraska aquifer.

To contact the reporter on this story: Eric Lam in Toronto at elam87@bloomberg.net

To contact the editor responsible for this story: Chris Fournier at cfournier3@bloomberg.net

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