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Oliver Says Keystone XL Won’t Raise Net Greenhouse Gas

The construction of TransCanada Corp. (TRP)’s Keystone XL pipeline won’t lead to a net increase of greenhouse gas emissions, Canadian Natural Resources Minister Joe Oliver said.

Speaking to reporters from Yellowknife, Northwest Territories, Oliver said oil carried by the pipeline would replace crude from Venezuela, which is similar in emissions to output from the Canadian oilsands.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net

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