Even with all the shouting between sides, we're still not discussing the real issue: The US has no comprehensive energy policy, and we stumble, under the terrible lack of leadership in Washington, from crisis to crisis with little effort to reduce our overall demand for heavy hydrocarbons such as crude and coal.
If beaten-up Canadian investors are looking to assign blame for the bruising suffered by their portfolios of late, they could do worse than point an accusatory finger at China. The resource super-cycle that drove valuations so much higher over the last decade is now hobbling along at a snail's pace and China is a big part of the reason why.
In the Delaware Riverkeeper v. Federal Energy Regulatory Commission (FERC) case, judges ruled that a continuous pipeline project cannot be segmented into multiple parts to avoid a comprehensive National Environmental Policy Act (NEPA) review. This is what Kinder Morgan proposed and did for its Northeast Upgrade Project.