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Robert Jones says Asian markets are an option

8:31 PM, Jan 10, 2012   |    comments
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OKLAHOMA CITY (AP) - A Canadian executive overseeing a plan to build a 1,700-mile oil pipeline from Canada to Texas says Canadian oil producers will look to Asian markets if the U.S. government fails to approve the Keystone XL pipeline project.

During a speech Tuesday in Oklahoma City, TransCanada Corp.'s Vice President for Keystone Pipelines Robert Jones said Asian markets are attractive, particularly with China's economic growth.

But Jones says he believes it makes more sense to keep Canadian oil in North America because it is more efficient and benefits both the United States and Canada.

Meanwhile, TransCanada on Tuesday released a breakdown of the 20,000 jobs the company says the $7 billion Keystone XL project would create in the U.S., including 13,000 in construction and 7,000 in manufacturing.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

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