Financial Post

The Keystone XL pipeline issue has dragged on for six years, a political clash between oil barons and the green movement against the oilsands. In the coming days U.S. President Barack Obama must veto the bill or it becomes law. If he vetoes the bill, it’s still not over and can be overridden with a two-thirds vote.

This torturous process, by the way, is nothing new. The St. Lawrence Seaway transformed both economies but was stillborn from the 1930s, due to Presidential foot dragging. Finally, Prime Minister Louis St. Laurent said Canada would create a Seaway that bypassed the U.S. to the Great Lakes so Washington got its act together and the Seaway opened in 1954 with great fanfare.

Today is no different. Canadian interests have realized that waiting for Washington to decide anything is like watching paint dry in a steam bath.

Oil companies have been doubling railway capacity…

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