Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama's rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday.
TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to "reach an amicable settlement," the company said in files posted on the pipeline's website.
"Unfortunately, the parties were unable to settle the dispute."
TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to recover what it says are costs and damages.
NAFTA, whose arbitration provisions allow companies to challenge governments before international panels, has been a target of recent anti-free-trade sentiments in the United States.
TransCanada’s case will be heard in a private tribunal of three lawyers who are not accountable to any domestic legal system, thanks to NAFTA’s “investor-state” system, which is also included in the proposed Trans-Pacific Partnership (TPP). The controversial TPP would empower thousands of additional corporations, including major polluters, to follow TransCanada’s example and use this private tribunal system to challenge U.S. climate and environmental policies.
ROCKMAN wrote:So TransCanada wants to sue President Obama because he wouldn't grant the border crossing permit. Big deal: in what court could they win? Turns out this situation might warrant a closer look at the TPP...Trans Pacific Partnership. Thanks to another trade deal, NAFTA, TransCanada might see a payday. From last September -
TransCanada seeks $15B for rejection of Keystone pipeline
"TransCanada filed a request for arbitration Friday under the North American Free Trade Agreement, arguing that the State Department's actions led the company to believe the project would win approval. Obama rejected a federal permit for the project in November, saying it would have undercut the nation's reputation as a global leader on addressing climate change. The Calgary-based company argues that it moved forward with the project under the assumption that it would win approval, given numerous federal reviews and the government's approval of the original Keystone pipeline. It also alleges that the administration rejected the project to bolster its environmental credentials.
Pipeline opponents said the claim highlights a problem with NAFTA as well as the proposed Tran-Pacific Partnership, which Congress has yet to ratify. Both allow foreign companies to challenge domestic laws in front of international arbitration panels."
So a big part of President Obama's legacy may depend on the decision of an international arbitration panel.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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