"TransCanada to Sue U.S. for Blocking Keystone XL Pipeline"

"OTTAWA — TransCanada said on Wednesday that it would seek $15 billion in damages over the Obama administration’s decision to cancel the company’s Keystone XL pipeline project.

The company is taking the unusual step of suing through the North American Free Trade Agreement, calling the decision 'arbitrary and unjustified.' The Canadian business also filed a lawsuit in Houston asking that the decision be overturned.

'TransCanada has been unjustly deprived of the value of its multibillion-dollar investment by the U.S. administration’s action,' the company said in a statement. 'Rather, the denial was a symbolic gesture based on speculation about the (false) perceptions of the international community regarding the administration’s leadership on climate change.'"

Ian Austen reports for the New York Times January 6, 2016.

Source: NY Times, 01/07/2016