By Brian Wingfield, Bloomberg
A House committee voted in favor of a Republican-backed bill requiring the Federal Energy Regulatory Commission to approve TransCanada Corp.’s proposed Keystone XL pipeline, stripping power from PresidentBarack Obama.
The Energy and Commerce Committee voted 33-20 today for the legislation, which would give FERC the authority to approve the $7 billion project within 30 days, provided the project is deemed safe. The Senate is considering a similar measure.
Republicans want to begin work on the 1,661 mile (2,673 kilometer) oil pipeline from Alberta,Canada, to the U.S. Gulf Coast. Obama in November delayed work to consider an alternate route. The House panel plans to add the bill to a measure on energy and infrastructure, with a vote planned this month.