House Dems Attempt To Block Keystone Oil Exports

Law360, Washington (February 3, 2012, 7:20 PM EST) -- Democrats in the U.S. House of Representatives introduced a bill Friday that would block efforts to export fuel from TransCanada Corp.'s Keystone XL pipeline if the controversial extension to Texas' Gulf Coast comes to fruition.

The bill, sponsored by Rep. Ed Markey, D-Mass., would require all gas and oil products from the Keystone pipeline to be sold on the U.S. market. Any exports would need a presidential waiver, which would prioritize domestic prices and consumption over profits.

TransCanada's 1,600-mile pipeline could transport 830,000 barrels of oil...
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