Sunday, June 26, 2016

Michael Brune — TransCanada Files NAFTA Suit Demanding More Than $15 Billion for Keystone XL Rejection

On June 24, foreign oil company TransCanada filed a lawsuit against the U.S. under NAFTA, the North American Free Trade Agreement, arguing that the U.S. rejection of the Keystone XL pipeline violated NAFTA’s broad rights for foreign investors by thwarting the company’s “expectations.” As compensation, TransCanada is demanding more than $15 billion from U.S. taxpayers.
TransCanada’s case will be heard in a private tribunal of three lawyers who are not accountable to any domestic legal system, thanks to NAFTA’s “investor-state” system, which is also included in the proposed Trans-Pacific Partnership (TPP). The controversial TPP would empower thousands of additional corporations, including major polluters, to follow TransCanada’s example and use this private tribunal system to challenge U.S. climate and environmental policies.…
Oh what the heck, it isn't "taxpayer money" – just government on the hook. (snark)

EcoWatch
TransCanada Files NAFTA Suit Demanding More Than $15 Billion for Keystone XL Rejection
Michael Brune
ht Dan Crawford at Angry Bear

6 comments:

Matt Franko said...

This will be fun to see what congress does if they have to come up with this "money!"...

Nebris said...

Considering Trump openly hates NAFTA, this might not be the best timed move politically.

Bob Roddis said...

Keystone required the "taking" of private property against the will of the property owner. How does a foreign entity have a right to enforce that?

Bob said...

They were deprived of their right to violate private property?

Bob said...

One thing is for sure - they won't get any money if they don't try. Ask for the Moon, settle for less.

Steve D said...

Shit...I can finally almost agree on something with non funny money Bob (R).