Keystone showdown in U.S. emerges as report warns of oil supply threats

Financial Post | Business

The U.S. Congress prepared to hold votes on the Keystone XL pipeline, Thursday, just as a new report confirmed that Americans need it more than they might think. The International Energy Agency (IEA) predicted that the tight-oil boom that has helped wean the U.S. off imports will likely run out of steam in the next decade.

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U.S. Democratic Senator Mary Landrieu said she would propose a vote on Thursday to approve the US$8-billion project, which would transport 830,000 barrels a day, primarily from Canada’s oil sands, to refineries in Texas.

Ms. Landrieu, who is at risk of losing her Louisiana seat in a runoff election in December, said on the Senate floor Wednesday she was “confident” she…

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