Democrats Seek To Keep Keystone XL Oil In US

Published: Feb 03, 2012

(Dow Jones) Crude oil carried by the proposed Keystone XL pipeline would have to stay in the US under a bill introduced by House Democrats. It's the latest maneuver in the political fight over TransCanada's (TRP) effort to ship crude from Canada to Texas. Rep. Ed Markey (D., Mass.) is attacking the company's assertion that the pipeline will provide a stable US energy source by saying TRP actually plans to sell to refiners who will export the fuel. The bill may have some legs as lawmakers wrangle over the pipeline, which the administration last month declined to clear. Senate Majority Leader Harry Reid (D., Nev.) is reportedly open to Markey's idea. Republicans, meanwhile, have their own bill to force approval of the pipeline over Obama's objections. (ryan.tracy@dowjones.com)

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