MediaAdvisory

Keystone XL Permit Denial Compromises Environment, Economy,

Jobs and Public Safety in the U.S. and Canada
TransCanada Considering All Options Including Filing a New Application for a
Presidential Permit
Calgary, Alberta November 6, 2015 TransCanada Corporation (TSX, NYSE: TRP) (TransCanada)
today released the following statement from President and Chief Executive Officer Russ Girling
following U.S. President Obamas denial of a Presidential Permit to build the Keystone XL pipeline:
We are disappointed with the Presidents decision to deny the Keystone XL application.
Today, misplaced symbolism was chosen over merit and science - rhetoric won out over
reason.
The U.S. consumes over seven million barrels per day more oil than it produces and will
continue to do so for decades, even despite U.S. oil production increases. It is disappointing
the administration appears to have said yes to more oil imports from Iran and Venezuela over
oil from Canada, the United States strongest ally and trading partner, a country with rule of
law and values consistent with the U.S.
Todays decision deals a damaging blow to jobs, the economy and the environment on both
sides of the border.
Through the course of its review, the U.S. State Department issued five very comprehensive
and balanced scientific reviews of Keystone XL since 2010. Tens of thousands of pages of
evidence from its own employees and agencies irrefutably show Keystone XL is the safest,
most environmentally sound way to transport needed energy to Americans.
These reviews further found that approval or denial of Keystone XL would be unlikely to
significantly impact the rate of production in the oil sands, or the continued demand for heavy
crude oil at refineries in the United States.
In addition, the State Departments review presented compelling evidence that clearly should
have satisfied the Presidents stated test that Keystone XL would not significantly exacerbate
greenhouse gas (GHG) emissions.
The State Departments January 31, 2014 Final Supplemental Environmental Impact
Statement also concluded that the total annual GHG emissions transporting oil by rail to the
Gulf Coast is about 42 percent greater compared to transporting that same oil through
Keystone XL.
Todays decision cannot be reconciled with the conclusions of the State Departments
comprehensive seven year review of the project.
Numerous independent studies have consistently concluded that the safest way to transport
oil is in a modern, safe pipeline. Keystone XL would help replace the higher risk trucks, trains,
barges and tankers currently carrying oil to market, and would provide the U.S. with energy
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supply security by connecting U.S. and Canadian producers to American refineries with a
pipeline running four feet under the ground.
By dismissing the 9,000 jobs for Americans building Keystone XL as only temporary, the
administration has ignored the value of infrastructure jobs and has taken away work from
those who seek it. In total, some 42,000 related jobs would not be created in the U.S. value
chain as a result of this decision.
Counties and communities will no longer have access, annually, for the life of the project, to
hundreds of millions of additional dollars in revenue generated from taxes paid by a company
that has already injected almost $200 million in tax revenue into communities along the
existing Keystone route.
In Canada, the U.S. denial impacts citizens across our nation at a time when jobs, economic
stimulus and competitiveness are critical for the country.
This has been a shovel ready project in Canada since it was deemed to be in the public
interest by the National Energy Board in March of 2010. Keystone XL would put 2,200 skilled
Canadians to work almost overnight, with thousands more workers benefiting along the full
value chain. Canadian manufacturers will lose out on millions more of spin-off activity that this
US$8 billion privately-funded project would provide.
We are thankful for the support of American and Canadian workers, labor organizations,
industry, our shippers and, most of all, Americans and Canadians.
TransCanada is reviewing the decision and its rationale. We believe KXL is in the best
interest of the United States and Canada.
Russ Girling,
President and CEO, TransCanada
With more than 65 years' experience, TransCanada is a leader in the responsible development and
reliable operation of North American energy infrastructure including natural gas and liquids pipelines,
power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines
that extends more than 68,000 kilometres (42,100 miles), tapping into virtually all major gas supply
basins in North America. TransCanada is one of the continent's largest providers of gas storage and
related services with 368 billion cubic feet of storage capacity. A growing independent power producer,
TransCanada owns or has interests in over 10,900 megawatts of power generation in Canada and the
United States. TransCanada is developing one of North America's largest liquids delivery systems.
TransCanada's common shares trade on the Toronto and New York stock exchanges under the
symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media
and 3BL Media.
FORWARD LOOKING INFORMATION
This publication contains certain information that is forward-looking and is subject to important risks
and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect",
"believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking
statements in this document are intended to provide TransCanada security holders and potential
investors with information regarding TransCanada and its subsidiaries, including management's
assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forwardlooking statements reflect TransCanada's beliefs and assumptions based on information available at
the time the statements were made and as such are not guarantees of future performance. Readers
are cautioned not to place undue reliance on this forward-looking information, which is given as of the
date it is expressed in this news release, and not to use future-oriented information or financial
outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to
update or revise any forward-looking information except as required by law. For additional information
on the assumptions made, and the risks and uncertainties which could cause actual results to differ
from the anticipated results, refer to the Quarterly Report to Shareholders dated July 30, 2015 and
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2014 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the
U.S. Securities and Exchange Commission at www.sec.gov.
-30TransCanada Media Enquiries:
Mark Cooper/Davis Sheremata
403.920.7859 or 800.608.7859
TransCanada Investor & Analyst Enquiries:
David Moneta/Lee Evans
403.920.7911 or 800.361.6522