Business Briefs – January 26, 2017

Transcanada Makes New Application for Keystone XL

CALGARY, Alberta (AP) – TransCanada Corp. has submitted a new presidential permit application to the U.S. Department of State for approval of the Keystone XL pipeline.

The project would move oil 1,180 miles from Alberta to Steele City, Nebraska, where it would connect with other lines for refineries along the U.S. Gulf Coast.

The application comes after U.S. President Donald Trump signed an order earlier this week to expedite the project.

Trump directed the State Department and other agencies to make a decision within 60 days of a final application. He also declared that a 2014 environmental study satisfies required reviews under environmental and endangered species laws.

Former President Barack Obama rejected Keystone XL in 2015, saying it would undercut efforts to cinch a global climate change deal in his environmental agenda.

 

Slow Fix: VW Diesel Owners Complain of Buyback Delays

DETROIT (AP) – Volkswagen’s efforts to do right by owners who unknowingly purchased cars and SUVs that cheat on emissions tests have run into some speed bumps.

Owners say the company isn’t delivering on a promise to quickly buy back their vehicles. Some complain about multiple requests for paperwork, even after being told their application was complete.

The German automaker acknowledges some hiccups, but blames delays on an overwhelming volume of buyback requests. A company lawyer told the judge handling the VW case that almost 400,000 owners had applied to have their vehicles repurchased in the three months since a legal settlement was approved.

Ford CEO Hopeful That Trump Will Ease Gas Mileage Standards

DEARBORN, Mich. (AP) – Ford Motor Co.’s top executive is hopeful that President Donald Trump could ease government fuel economy requirements and reduce corporate taxes to help the auto industry grow and create jobs.

The comments from Chief Executive Mark Fields came Thursday, two days after he and his counterparts at Fiat Chrysler Automobiles and General Motors Co. met with Trump at the White House.

Fields said on a conference call after Ford announced its 2016 earnings that they discussed emissions and gas mileage requirements that were finalized by the Environmental Protection Agency in the waning days of the Obama administration. “We may see some actions on that which could be positive for our business,” Fields said.