Energy

Keystone XL Decision to Take More Time

KeystoneXL map
U.S. State Department
In an announcement Friday, the U.S. State Department said that it will provide more time for the eight federal agencies that have a legal responsibility to review the proposed Keystone XL pipeline project. The amount of additional time is not specified, but one thing we can be sure of is that the State Department is in no hurry.

The stated reason for the delay is a Nebraska court ruling in February that tossed out that governor’s approval of the pipeline route without consulting the state’s Public Service Commission. At the time of the ruling it was expected that the delay could last as much as seven months while the Public Service Commission considered the pipeline project proposal. The state Supreme Court is also reviewing an appeal of the lower court ruling. A decision may not come until the end of the year.

With mid-term elections coming up, the Obama administration did not want to be forced to make a decision on Keystone XL until after the November elections. Friday’s State Department announcement officially gave the administration the breathing room it expected.

There is no political advantage for the President to approve the pipeline, except to help re-elect Democratic Senators from Louisiana and Alaska, both of whom strongly support the pipeline and are battling for their political lives in states that are heavily Republican. A delay is nearly as good as an approval in these cases.

The bulk of the advantages to the Democrats lie with rejecting the pipeline. It gives the party’s environmental wing a big win and sets up environmentalist support for the Democratic nominee for president in 2016.

ALSO READ: States with the Highest Gas Prices

 

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today.  Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.