Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Demonstrators against the Keystone XL pipeline march in Lincoln, Neb. Photo: Nati Harnik / AP
Nebraska's Public Service Commission has approved construction of the Keystone XL pipeline across Nebraska in a 3-2 vote, removing the last regulatory hurdle for the $8 billion project, per the Omaha World-Herald.
Why it matters: Oil prices go a lot further than any government permit to determine whether the Keystone XL pipeline will ever actually be built. Companies' appetites to tap into the expensive oil sands region in Canada are much less than what they were several years ago, as crude oil is trading at about three times less the price it was trading when the pipeline was first proposed.
Impact: Just because it's been approved, it doesn't mean the pipeline will be built for a few reasons, including:
- Opponents will be filing lawsuits to try and block the construction.
- New landowners will have to get on board with right-of-way agreements, which puts the eventual completion of the pipe up in the air.
- No notice was given to them by TransCanada or the state, per the Omaha World-Herald. The counties now in the path include: Madison, Stanton, Platte, Colfax, Butler, Seward, and Saline.