- The U.S. State Department releases its final environmental study of the Keystone XL oil pipeline (TRP +1.4%), and says the project likely would not change the amount of oil ultimately removed from Canadian oil sands, suggesting that building the pipeline would have little impact on global climate change.
- The conclusion is that the heavy crude would be extracted and delivered anyway - by rail if not pipeline.
- The review says it is not an approval or denial of the project, but it is a clear disappointment to climate activists and raises the odds it will win approval from the Obama administration.