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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Keystone XL

Keystone pipeline measure fails in Senate by one vote

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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November 18, 2014, 6:54 PM ET
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Senators narrowly rejected a bill Tuesday that would have authorized the Keystone XL pipeline, the controversial spigot for transporting Canadian oil to the Gulf Coast.

The final vote – 59-41 – fell one vote shy of what was necessary to pass the legislation. All 45 Republicans gave their support for the pipeline’s construction, while 14 Democrats also voted in favor.

The failure hurt the re-election prospects of Sen. Mary Landrieu, of Louisiana, in a Dec. 6 run-off against opponent Rep. Bill Cassidy, a Republican. Landrieu, a Democrat, sponsored the bill and pushed hard for its passage.

On Friday, the House passed the measure 252-161, including 31 Democrats who voted for its approval.

The pipeline, as conceived, would stretch over 1,000 miles and carry up to 800,000 barrels of crude oil daily from the Canadian tar sands to the Gulf Coast. Advocates of the pipeline argued that its construction would create jobs and help reduce U.S. dependency on Middle East oil while opponents said it would harm the environment.

Although the bill failed to pass on Tuesday, the Senate may take up the issue again in January when Republicans gain control. Future Senate Majority Leader Mitch McConnell has said he is committed to another vote on the measure.

 

 

About the Author
By Benjamin SnyderManaging Editor
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Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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