(Adds comments on regulation, Northern Gateway)
By Jonathan Spicer
NEW YORK, June 10 Canada is "disappointed" that
the proposed Keystone XL pipeline to the United States has not
yet received approval from the White House, the country's
finance minister, Joe Oliver, said on Tuesday.
"We are of course anxious for this project to proceed and we
are very disappointed that it hasn't yet achieved the (U.S.)
presidential approval," Oliver told reporters before attending
an energy conference hosted by U.S. bank Goldman Sachs.
TransCanada Corp's $5.4 billion pipeline would link
Alberta's vast oil sands fields with refineries in Texas. A U.S.
decision on the politically charged project is not expected
until after midterm elections in November.
Supporters say it would bolster North American energy
security and provide thousands of jobs. Critics, including some
in U.S. President Barack Obama's Democratic base, say it would
increase emissions linked to global warming.
Oliver, a former energy minister who aggressively lobbied in
the United States for Keystone XL, said Canada would work with
the United States to reduce harmful emissions. But the
Conservative government would not adopt regulations for the oil
and gas industry that would harm the Canadian economy, he said.
"We are consulting extensively with the industry, but we're
not going to impose rules that would create a competitive
disadvantage for Canada on jobs and growth," he said.
By linking to refiners in the Gulf Coast, the 1,200-mile
(1,900-km) pipeline would provide a boost to the oil sands,
where heavy oil is abundant but requires the burning of vast
amounts of fossil fuels to extract.
Oliver would not comment on another route for the oil:
Enbridge Inc's proposed Northern Gateway pipeline from
Alberta to the British Columbia coast. His government has less
than a week to decide whether to approve that project.
(Reporting by Jonathan Spicer; Editing by Dan Grebler and Steve