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Revenge of the Keystone XL Pipeline

Submitted by Stockmaster3 on Thu, 01/19/2012 - 06:27

Obama is against the Keystone XL pipeline, too bad big oil is going to win. We review the stocks you should consider.

Mastery still likes TransCanada Corporation (NYSE:TRP), Exxon Mobil (NYSE:XOM), and PetroChina Company Limited (ADR) (NYSE:PTR) despite the odds as we pointed out in The Stocks of the Keystone XL Pipeline.

Here's why -- Keystone XL Pipeline Seen Moving Ahead on Alternative Route

(Bloomberg.com) Jan. 19 -- TransCanada Corp.’s $7 billion Keystone XL oil pipeline still will move ahead with an alternate route after President Barack Obama’s decision to deny a permit, investors, public officials and analysts say.

Obama blamed congressional Republicans yesterday for imposing a deadline on his decision, which he said left no time to approve the project. His administration invited TransCanada to reapply, an overture the Calgary-based company promptly said it would accept.

Denying the permit pushes a final decision on the pipeline into 2013, safely past this year’s presidential election. John Stephenson, who helps manage $2.7 billion for First Asset Management Inc. in Toronto, said he bought 350,000 shares yesterday as TransCanada fell the most in 18 months. Continue..

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