HOUSTON, TEXAS--(Marketwire - Sept. 23, 2011) - TransCanada's (TSX:TRP) (NYSE:TRP) President of Energy and Oil Pipelines, along with other supporters of the project, will speak with the media about why the Keystone XL pipeline is fundamental to supporting energy security and job growth in the United States.
The U.S. consumes 15 million barrels of oil each day and imports 11 million barrels. Americans have a choice: receive stable, secure oil from a friendly neighbour in Canada or continue to import higher priced 'conflict oil' from regions such as the Middle East and Venezuela – areas that are not friendly to the United States and do not share its values.
As noted in the Perryman Report, Keystone XL would create 20,000 construction and manufacturing jobs in the U.S. along with 118,000 spin-off jobs, inject $20 billion into the American economy and pay out over $5 billion in taxes to local counties over the project's lifetime.
After an independent and exhaustive three-year review of the project by the U.S. Department of State, a Final Environmental Impact Statement (FEIS) was issued August 26, 2011. This review was the most detailed and comprehensive environmental review ever undertaken for a cross border pipeline.
The FEIS concluded that 'The analyses of potential impacts associated with construction and normal operation of the proposed Project suggest that there would be no significant impacts to most resources along the proposed Project corridor.'
A 90-day National Interest Determination period is currently underway and a decision on a Presidential Permit for the Keystone XL project is expected by year end.
When: Monday, September 26, 2011 at 3:00 p.m. (CDT)
Where: Holiday Inn Express, 3115 Central Mall Drive, Port Arthur TX
- Alex Pourbaix, President, Energy & Oil Pipelines, TransCanada Corporation
- David Holt, President, Consumer Energy Alliance
- Local Texas officials
After brief openings statements from the speakers, media will be invited to ask questions. The press conference is expected to last 45 minutes.
With more than 60 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 57,000 kilometres (35,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com and follow us on Twitter @TransCanada.
FORWARD LOOKING INFORMATION This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "would" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future financial and operation plans and outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward-looking information. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to TransCanada's Management's Discussion and Analysis dated February 14, 2011 under TransCanada's profile on SEDAR at www.sedar.com and other reports filed by TransCanada with Canadian securities regulators and with the U.S. Securities and Exchange Commission.