Financial Post | Business

The countdown over the fate of the Keystone XL oil pipeline — the new and improved version — has begun. A report from Nebraska Friday found TransCanada Corp.’s proposed re-route of its Canada-to-United States line avoids many sensitive ecological regions in the state and generally paints a positive picture of the proposal.

The 2,000-page report from the Nebraska Department of Environmental Quality (NDEQ) is one of four big hurdles facing the Canadian project on the road to a presidential permit — and the next three could be more politically charged as the debate picks up where it left off before the U.S. presidential election.

The other three are: a final recommendation by Nebraska Gov. Dave Heineman, a Republican, to the U.S. government in the next 30 days; a supplemental environmental impact statement by the Department of State, under the new leadership of John Kerry, that will incorporate Mr. Heineman’s recommendation…

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