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Keystone Pipeline Approval Snag Spurs Oil to Rail Tankers

As the year rolled to a close, Russ Girling, chief executive officer of TransCanada Corp., repeated on television what he has often said: he’s “very confident” that President Barack Obama will approve the Keystone XL pipeline.

The problem is that people have been saying that for years. As a result, the oil industry on both sides of the border has begun to aggressively deploy alternatives to the pipeline, including shipping by rail and barge, to get that oil to U.S. Gulf Coast refineries.