Source: Thinkstock
An 80-mile-long chunk of the Vantage Pipeline system to carry ethane gas from North Dakota to Alberta has been approved by the U.S. State Department and the President. Ethane is used as a feedstock for making various plastics and other consumer products.
While this is not the 1,800-mile-long Keystone XL pipeline, supporters of the massive project proposed by TransCanada Corp. (NYSE: TRP) didn’t let an opportunity pass to encourage the President and the State Department to get on with approving the Keystone XL. North Dakota Senator John Hoeven noted that it took just three years to approve the Vantage pipeline and that Keystone XL is still awaiting a decision after five years.
Hoeven also said that construction of the pipeline will inject $300 million into the U.S. and Canadian economies and expand the market for North Dakota natural gas. The pipeline will transport ethane gas produced by Hess Corp. (NYSE: HES) to a chemical plant in Canada owned by NOVA Chemicals.
One beneficial environmental side effect of the new pipeline will be a reduction in gas flaring.
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
