Reuters is reporting that the rumors we’ve been hearing about this week — a delay on a decision for the controversial Keystone XL pipeline — may be true. The Obama administration may announce that they’ll explore a different route for the pipeline, “delaying a final approval beyond the 2012 U.S. election.” More from Reuters:
The decision would be a victory for environmentalists, many of whom oppose the pipeline, and a setback for TransCanada Corp, whose $7 billion Keystone XL project is seen as the most important North American oil pipeline plan for decades.
One source familiar with the matter said that studying a new route for the pipeline would likely take 12-18 months, putting a final decision after President Barack Obama’s bid for re-election on November 6, 2012.
An announcement is expected later today.