TransCanada Applies For Presidential Permit For Keystone XL Pipeline

TransCanada Corp. said late Thursday it has submitted a presidential permit application to the State Department for approval of its Keystone XL pipeline. Earlier this week, President Donald Trump signed orders to revive Keystone XL and another pipeline in the Midwest, the Dakota Access, or Bakken pipeline. Shares of TransCanada were down 2% in the late session after ending the regular session down 1.4%. Then-President Barack Obama rejected the pipeline in late 2015. The pipeline is planned to begin in Hardisty, in Canada's Alberta province, and end 1,179 miles later at Steele City, Neb.