What's next for Keystone XL

Tom Stromme / The Bismarck Tribune via AP

Yesterday's Keystone XL approval by Nebraska state regulators hardly means the project is a sure thing, but it could make it more likely that TransCanada will build it.

Why it matters: Wood Mackenzie's Zachary Rogers said the outcome "greatly diminishes" the political risk facing the project, which is also getting a lift from recent market shifts that strengthen the need for heavy crude on the Gulf Coast.