Posted on 06/27/2016 7:57:53 AM PDT by Hojczyk
During all of that time, TransCanada (the company working to complete the project) was running up some significant bills doing preparatory work, filing reports, paying for armies of lawyers and engineering talent… this was not a low cost, low risk endeavor. And all the while they were being assured that the plan would get a fair hearing and held obvious benefits for both the United States and Canada. Then the plug was unceremoniously pulled.
With all of that history as prologue, it may not be surprising that they would now like some of the money which was invested in good faith returned to them, and they’d like Barack Obama to sign the check. (Reuters)
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.
also. As Bloomberg reports, this TransCanada dispute could invigorate opposition to the Pacific deal.
TransCanada’s claim could reinvigorate opponents of the proposed Trans-Pacific Partnership and make it even harder for advocates of that 12-nation trade deal to get it ratified by Congress. Like Nafta, the Trans-Pacific Partnership includes investor-state dispute settlement provisions that allow foreign companies to challenge domestic laws in front of international arbitration panels. Investor-State Provisions
(Excerpt) Read more at hotair.com ...
I dunno about this. They took a risk and lost.
Obama destroying everything he touches. Also, the prick could have shut it down at the very beginning and said he would never agree to it. Instead, he strings Canada along for years and then when the issue cant hurt him anymore, he pulls the plug.
Not cool.
Just put it on his tab, he does everything else. Let’s see, $20T +1, $20T +2..............
red
Canada effed up.they trusted him.
It is gonna take Nurnburg type war trials to undo the damage.
Baloney. We entered into a treaty with them, like it or not, we did. They spent tons of cash in good faith, based on US process and all. Barry pulled the rug out with no due process.
Think of it as you building a house, going through every legal process required by the county. You have already paid the architect, who has done the work, you paid the builder to start the surveying and foundation work.
Then you have the county come back and say the permits are suddenly refused on the whim of one man who says he will never allow a house to be built in that area of the county.
Not cool.
*********
Sounds like the kind of b.s. the Brits just rejected. Ain't globalism great?
I’ll bet Obama is pissed about this. You know how he hates spending other people’s money.
It became a bad deal when Obama came on the scene. IIRC, Soros is involved.
If Soros is involved, it became a bad deal when Soros became involved.
And the State Department under both Clinton and Kerry slow-walked, stalled, etc. to make sure it died on the vine...
I’m sure he’ll pay it, it’s not his money.
Who is on this “International Arbitration Panel”?
That might make a big difference.
They were led on and had reason to expect it to happen - even with the initial delays.
Elections have consequences. Vote for a crooked communist, live with the results. Sucks for those of us who didn't vote for a crooked communist
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