BUSINESS

Keystone bill signed by U.S. House Speaker, who urges Obama to add his name

02/13/2015 10:48 EST | Updated 04/15/2015 05:59 EDT
WASHINGTON - The Republican leadership in the United States Congress has made it official, formally enrolling legislation to build the privately funded Canadian Keystone XL pipeline and urging President Barack Obama to sign it.

In a ceremony on Friday, the Republican leader of the House of Representatives, Speaker John Boehner, put his signature on the bill and called on Obama to "do the right thing" and add his name.

While the next stop for the measure is the White House — where Obama has threatened to veto it — Republicans will delay sending it over until after their weeklong recess. That's because they want to be in town when Obama vetoes it.

First proposed in 2008, the pipeline if approved would connect Canada's oilsands to Gulf Coast refineries.

Calgary-based TransCanada Corp. (TSX:TRP) is the pipeline project's developer.

The White House has said repeatedly it will wait to make its decision until after a State Department review.