TransCanada Files Lawsuit Against U.S. Over Rejection of Keystone XL Pipeline

TransCanada Files Lawsuit Against U.S. Over Rejection of Keystone XL Pipeline:



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TransCanada Corp. says it will initiate a claim under the North American Free Trade Agreement and seek more than $15-billion (U.S.) in damages in response to the U.S. government's decision to deny a permit for the controversial Keystone XL pipeline. TransCanada said Wednesday it has also has filed a lawsuit in the U.S. Federal Court in Houston asserting that U.S. President Barack Obama's decision to deny construction of the $8-billion project exceeded his power under the U.S. Constitution… On Wednesday, TransCanada said the $15-billion claim it will make through its NAFTA action represents the initial estimated loss of value of TransCanada's investments. "TransCanada has invested billions of dollars in assets that have now been rendered useless for the intended purpose, specifically the transportation of Canadian and American oil—as outlined in our contracts. The preliminary damages figure for the NAFTA claim takes into account the lost value of these investments, as well as the lost economic return."

Not to mention the sunk cost of all those eminent domain claims through which TransCanada tried 

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note, this case will not be heard by American judges