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Jeff Rubin

On Keystone, Environmentalists Lose by Winning

TransCanada Corp.’s proposed $7.6 billion Keystone pipeline system, which would take crude from Alberta’s tar sands down through the Midwest and on to Texas and the Gulf Coast refineries, could be scuttled because of concerns about its potential impact on a major aquifer in Nebraska.

President Barack Obama has blocked the project application, citing the need for further review. TransCanada intends to reapply, but a decision won’t be made until after the U.S. presidential election.