The controversial Keystone XL Pipeline project got the go-ahead from the State Department this morning with a permit allowing TransCanada to “construct, connect, operate, and maintain pipeline facilities at the U.S.-Canadian border in Phillips County, Montana, for the importation of crude oil.” The move comes after a 60-day review period that began with an order from President Trump during his first week in office. It reverses a decision from former President Obama, who rejected the permit in 2015.
It’s not over yet, though. As we wrote this morning, the project is still facing the harsh economics of the oil industry, with lower production forecasts and oil and shipping firms wary of a potential border tax. Read the State Department’s announcement here.