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Russ Girling, Transcanada CEO, on the new projected route for the Keystone Pipeline project and how he believes President Obama will respond.
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Section is still up for debate TransCanada is just submitted a we're -- -- the route to the government.
Hoping you'll -- concerns over Nebraska's environmentally sensitive sand hills region -- about -- liberals triggered an circuitous now.
So well was finally get the white house on board joining me now -- first time fox.
Yield is TransCanada CEO Russ sterling Russ thank you so much for joining us do you think you have a magic -- -- you think -- is gonna get it done.
I think that we fat listen to the concerns of Nebraska ends and had done that great degree of work to work around their concerns and I think we've come up with that -- -- that it meets and everybody's needs.
Yet tell me about this -- hopefully we can put the picture up again you could see that.
You know there are quite a few little -- along the way to make sure that it doesn't touch this environmentally sensitive area.
You know when you sort of caught calling the president's -- saying well you know we've done everything we're supposed do now prevent.
I think that we've done that and we we we've done everything we've supposed to do for north holt process -- started to.
You know well over four years ago.
And at this is just the latest stat.
You know adjustments that we made to the -- to the -- has had no many adjustments incest since we started.
It's as easy by the map we we move data were essentially out of -- -- -- sensitive sand hills areas as it was defined by.
Nebraska the part about Paramount quality.
Had original proposed truth that we we submitted in in April went under further review.
-- for public comment meetings.
Which gets you down today you know that -- -- new level of review we look at said Doug oats and those kinds of things with that was landowners and and we try to root around.
It whatever sensitivity said there were raised to 675 landowners raise issues.
Through that process the anti human July summarize that along with their own comments.
And this this proposal as a response to to those comments -- we've.
-- got down in the woods the most minute detail level down have a where those concerns -- -- and our best to address them realistically what do you think happens here do you think anything happens before the election.
I think that we have -- we've been told time in terms of the processes they attack.
And that the national or that they in Nebraska department environmental quality.
Will reach a conclusion by the and if the year and make a recommendation to the governor assuming that he signs off -- that.
How to Department of State has said -- They will make a decision in first quarter of next year that's the time friend or written from today and debt.
At least at this point time nobody Sammy meeting injustice that's schedules that's -- we're working towards and we're working very hard to make that happen.
So so let me get -- streets -- -- after the election he thinks something happens.
And that's that's the schedule the were working on right now is is one that occurs a decision occurs sometime in the first quarter of 2013.
But obviously the sooner we can get that -- the sooner we can put -- You know the Americans that want to get to work on this project back how many by the way how many Americans how many jobs would this create how much oil -- it.
Would -- bring to the US.
The the jobs they create on the and the Gulf Coast section that we -- currently have under construction which show you mentioned earlier.
And there's about 4000 people that we put to work professionals.
-- figures and -- Well there's a -- On the keystone XL portion of the pipeline it's 09009.
Direct construction jobs -- that there will be created.
As as result of starting construction are frustrated by how political Scott.
Obviously is it's not a place for or any company wants to be.
-- -- -- and and have.
Project that has sat attracted as much attention is is this has has done we've done our best just to comply with the regulatory process -- and -- job done.
Obviously not where we're -- You know it's been known as -- said over four years now.
The most conference review.
One could imagine for a project like this.
But I think the other benefits of that will be the attack.
Americans that will get the safest pipeline ever built when when we get it done and it will bring secure supplies to look to America and then in the safest possible way what.
It cost you -- your shareholders that you become what political and that this has slowed down so much what do you estimate across a bad.
I wouldn't put an estimated to have cost and we want to make sure that we get things done right but obviously.
We've got about two and a half billion dollars into this project in its entirety today.
I'm on the keystone XL section alone is about one and a half billion dollars into the project.
And the sooner time we can get that that that -- capital productive time that's good for.
And as I said that jobs it'll create.
But at the same time oil will start flowing -- will -- securities plan obviously from our shareholders perspective found that will be.
-- that said that its first earned and at the current time that that's not earning any -- any return for us.
Well it'll be a shame of this five point doesn't come to fruition as we know that that boiling candidate will end up going over to Asia -- thank you for coming on the show and making your case and best luck to you.
Thank you very --
