HOUSTON _ A Canadian company has started operating the Texas portion of a proposed cross-border pipeline that has stirred controversy and tension between the United States and Canada.
TransCanada Corp.(TSX: T.TRP,Stock Forum)says in a statement on its website Wednesday that it is delivering oil through the Gulf Coast portion of its proposed Keystone XL pipeline. The company is planning a news conference later Wednesday.
Texas landowner Julia Trigg Crawford vows to walk around her farm daily to look for any leaks from the pipeline that runs under her property. She has appealed her case against TransCanada to the Texas Supreme Court.
This pipeline is the southern leg of the proposed Keystone pipeline, which would transport oil from Canada's oil sands to Houston-area refineries. That cross-border section requires President Barack Obama's approval.
TransCanada shares rose 0.60% to $48.76 on Wednesday, leaving a market cap of $34.4 billion, based on 707.4 million shares outstanding. The 52-week range is $51.21 and $43.94.