Keystone XL Owner Loses Bid to Stay Ruling That Delayed Project
- TransCanada warned ruling would cost $900 million in profit
- Project stalled after judge ordered new environmental review
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TransCanada Corp., the developer of the controversial Keystone XL oil pipeline, lost a bid to circumvent a federal judge’s ruling that has further delayed the project.
The U.S. Court of Appeals for the Ninth Circuit denied TransCanada’s request for a stay on a Montana federal judge’s ruling that halted work on Keystone XL while it appeals that decision. The court said Friday that the company hadn’t made a strong enough showing that it was likely to prevail on the merits of its case.