During his first week in office, President Trump issued a Presidential Memorandum inviting TransCanada to resubmit its application to the Department of State for a permit for the construction and operation of the Keystone XL Pipeline. White House spokesman Sean Spicer said the Administration will provide a Keystone XL update on Friday (today), with several unnamed government sources suggesting that the update will be the approval of the project. The Keystone Pipeline is owned by Calgary-based TransCanada. In 2011, Phase 2 of Keystone connected Steele City, Nebraska to the major oil hub in Cushing, Oklahoma. The Phase 4 expansion of the Keystone Pipeline is the one the world came to know as the Keystone XL (“XL” stands for export limited.)

Source: Forbes March 24, 2017 11:26 UTC