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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

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When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
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
Down Arrow Button Icon
November 18, 2014, 6:54 PM ET

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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