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TransCanada CEO Russell Girling on whether the Keystone pipeline will be approved and his outlook for job creation.
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Right now the proposed keystone XL pipeline totally back in the spotlight again -- environmental last activists are seizing on the fact.
President Obama didn't even talk about it caught up in climate change in his State of the Union Address instead did not voiced support for the keystone.
The TransCanada president CEO rest -- grilling is confident the pipeline will be approved in the first half year.
And he joins us now by phone thank you sir for taking the time why so confident.
Is it because the president is -- not looking to garner votes anymore.
Let's let's -- think there.
It's that yeah -- in I remain confident that that it backs are the United States imports.
09 to ten million barrels debate to -- and under any sort of work cast by the BI AEA.
Suggest that you imports stayed between dampen -- that million barrels a -- -- -- -- 35.
The only question here is where they wanna get -- help from -- -- -- -- -- -- -- -- -- get someplace else around the world and I guess I would -- -- logically.
Do you include if he -- Canada and the more secure.
And you get a whole bunch of jobs.
With respect to building abide by United States by so.
I -- TD confident that this -- Whole -- in some estimates saying 20000 jobs.
You know -- -- -- in four and a half years for approval this pipeline I got -- -- you you kudos for your patience on this.
It it must be frustrating to think that a bunch of you know environmentalists can really put a halt on a huge project like this.
I think the most frustrating part of that for -- it is they.
Is the hand this information is being being out there and it is in notion that this is be taking a stand in his speech is the worst -- threat.
In the world there's no actual -- that underpin that.
It -- -- it produces about 48 million tonnes a year.
Being beaten don't want to be prime candidate web site pick up that number at 110 of 1%.
A global emissions.
So but by no means is it is a close US.
The biggest threat from a a -- prospective.
And I think a lot of people don't realize too that this pipeline will actually -- American crude as well it's not just moving crude from.
-- -- -- which is the third largest crude resource in the world right now.
All the way down to Texas and -- were moving our own oil as well.
That that is very important -- and that it is has grown since since we made our first application Keystone Pipeline.
That the -- oil jail played in the US have grown quite considerably and I think there's.
Huge opportunity for them to continue to go further data welcome news is it's constrained currently being rail relative -- like the Bakken.
Plan and that crude want to get on our pipeline as quickly -- we have need.
Capacity available for that about 250000.
Barrels they have the capacity the pipeline has been dedicated to US production.
You know up we get this pipeline underway this puts your place in the oil world committee catapults you guys to as a company as a player in the industry.
-- stock -- been.
In anticipation I think that it will be approved you guys just raise the dividend three point 6% right now is your dividend talk about your earnings report a little bit.
-- million missed on the revenue side but.
Aspire.
Pretty good as far as profit goes.
Yet -- if -- -- well positioned for the future obviously like like all companies that have from the commodity exposure Willer urging it.
-- were impacted -- 2012 I expect that'll come back as the economy recovers and gas and power prices recover.
I don't -- go forward well positioned with things like Keystone Pipeline.
-- is also.
Science -- You know another fifteen billion dollars worth of of opportunity this year to build infrastructure in in Canada and Mexico and in the United States.
Which -- -- it will you know goes as well you nasty aware earning.
It again there -- going to future.
-- growing fingers are crossed for you here TransCanada president CEO we really do hope this goes through thank you sir.
Thank you very much and you know.
