Pipeline Delay Costs TransCanada Big Bucks


A new delay for the controversial Keystone XL Pipeline project is already costing TransCanada big bucks.

TransCanada is developing the pipeline that would make its way through Nebraska from Canada to refineries in Texas.

Shares of the Calgary-based company dropped three-percent Monday, the first day of trading since Friday’s announcement. Canada's Chamber of Commerce estimated that the regions the pipeline would go through are losing millions of dollars every day the pipeline goes unfinished.

The State Department is responsible for approving the project and department officials said federal agencies still need more time to examine the project.