TransCanada prepares to hand Barack Obama a bill for $15B

From Hotair:

I’m sure our regular readers remember when Barack Obama went with his conscience (as opposed to boring old things like science) and shut down construction of the Keystone XL pipeline. At the time he claimed that it didn’t meet the test of combating climate change, though in reality he was running from a massive revolt on his Left flank if he’d approved it. But it took a long time to “get to No.” There was one review after another, coming from the EPA, the State Department, the Department of the Interior and the Federation of Urban Dog Walkers. (Okay… I may have made up that last one.)

During all of that time, TransCanada (the company working to complete the project) was running up some significant bills doing preparatory work, filing reports, paying for armies of lawyers and engineering talent… this was not a low cost, low risk endeavor. And all the while they were being assured that the plan would get a fair hearing and held obvious benefits for both the United States and Canada. Then the plug was unceremoniously pulled.

With all of that history as prologue, it may not be surprising that they would now like some of the money which was invested in good faith returned to them, and they’d like Barack Obama to sign the check. (Reuters)

TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama’s rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday.

TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to “reach an amicable settlement,” the company said in files posted on the pipeline’s website.

“Unfortunately, the parties were unable to settle the dispute.”

TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to recover what it says are costs and damages.

Yet another bill he's leaving behind AFTER he leaves office.