Some energy executives in Calgary say the election of Barack Obama is a positive step for the Alberta resources industry.
“There's a clear result, which is a good thing in terms of stability and moving forward with the processes we have underway for our projects in the United States," said Grady Semmens of TransCanada on Wednesday.
The Obama administration rejected TransCanada’s proposed Keystone XL Pipeline route in January 2012, citing environmental concerns about the project.
The company has since submitted a second route and is still waiting for that approval.
Republican candidate Mitt Romney had promised to make the Keystone pipeline a top priority if he was elected.
Consultant Bill Gwozd of Ziff Energy says Obama’s win still means good news as the President brings familiarity and consistency to the energy sector.
"Obama, who is already well aware of the issues with the oil pipeline system, makes that a no-brainer now. So we should see the approvals for the oil pipeline, which is a big benefit for TransCanada,” said Gwozd.
The revised route for the Keystone XL pipeline will go to a public hearing in Nebraska early next month.