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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTransCanada formally seeks NAFTA damages in Keystone XL rejection
TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama's rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday.
TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to "reach an amicable settlement," the company said in files posted on the pipeline's website.
"Unfortunately, the parties were unable to settle the dispute."
TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to recover what it says are costs and damages.
The Keystone XL was designed to link existing pipeline networks in Canada and the United States to bring crude from Alberta and North Dakota to refineries in Illinois and, eventually, the Gulf of Mexico coast.
Obama rejected the cross-border crude oil pipeline last November, seven years after it was first proposed, saying it would not make a meaningful long-term contribution to the U.S. economy.
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read:http://www.reuters.com/article/us-transcanada-keystone-idUSKCN0ZB0R9
think
(11,641 posts)being allowed to be built in our country....
cali
(114,904 posts)in an effort to force the pipeline to be go through.
Posters who support these deals often say that corporations haven't succeeded using the ISDS system, against the U.S. I say so far. And the TPP will enable more corporations more access to the flawed ISDS.
And corporations have succeeded in other countries.
mrr303am
(159 posts)Once congress and Obama signs TPP into law after the general elections. Corporations all around the globe will be suing us for any and all reasons they feel our current laws are cutting into their profits.
msanthrope
(37,549 posts)cali
(114,904 posts)in other countries. And the TPP will give more corporations access to the same kind of dispute system. It's not just the use of the ISDS. The threat of using it is and has been effective.
It's a matter of time.
msanthrope
(37,549 posts)resolution.
cali
(114,904 posts)And the ISDS process gains more traction and more grants more power to more corporations. That's simply fact.
The U.S. has already been impacted by threats. And we aren't the only country in the world.
msanthrope
(37,549 posts)Your opinion on the isds process is not supported by fact, but built o. speculation.
Although I am glad to give you this opportunity to present facts which would support transcanada's case against President Obama..... please list facts supporting their claim below.
TransitJohn
(6,932 posts)If NAFTA were the TPP, they could.
think
(11,641 posts)cali
(114,904 posts)<snip>
On June 24, foreign oil company TransCanada filed a lawsuit against the U.S. under NAFTA, the North American Free Trade Agreement, arguing that the U.S. rejection of the Keystone XL pipeline violated NAFTAs broad rights for foreign investors by thwarting the companys expectations. As compensation, TransCanada is demanding more than $15 billion from U.S. taxpayers.
TransCanadas case will be heard in a private tribunal of three lawyers who are not accountable to any domestic legal system, thanks to NAFTAs investor-state system, which is also included in the proposed Trans-Pacific Partnership (TPP). The controversial TPP would empower thousands of additional corporations, including major polluters, to follow TransCanadas example and use this private tribunal system to challenge U.S. climate and environmental policies.
TransCanadas Request for Arbitration follows the Notice of Intent to submit a claim to arbitration that it filed on Jan. 6.
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The TPP would empower thousands of new firms operating in the U.S, including major polluters, to follow in TransCanadas footsteps and undermine our critical climate safeguards in private trade tribunals. Today, we have a prime example of how polluter-friendly trade deals threaten our efforts to tackle the climate crisis, spotlighting the need for a new model of trade model that supports rather than undermines climate action. We urge our members of Congress to learn from this historic moment and commit to reject the TPP.
Heres more information on the TPP:
Environmental opposition to the TPP is mounting. Earlier in June, more than 450 environmental, landowner, Indigenous rights, and allied organizations sent a letter to Congress warning that pending trade deals like the TPP threaten efforts to keep fossil fuels in the ground.
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http://ecowatch.com/2016/06/25/transcanada-nafta-keystone-xl-tpp/
msanthrope
(37,549 posts)pampango
(24,692 posts)Obviously, if some government made a decision against a foreign company for political or xenophobic reasons - imagine what a President Trump is capable of - that would be a different matter.
Anyone who thinks Obama rejected the Keystone XL pipeline out of some xenophobia that it was a Canadian company, is not in touch with reality. It is hard to imagine that the executives are TransCanada really think that. Perhaps this is intended to cover their a****s against their board of directors and stockholders. "Obama did this to us because we are Canadian!"
Hoyt
(54,770 posts)unless they can help a GOPer win the Presidency who will approve the pipeline.