Keystone XL Oil Pipeline

If you are a high stake roller, you might want to put your money on the Obama Administration's approval of the Keystone pipeline expansion from Canada's oil sands in Alberta through the U.S. Midwest to Gulf Coast refineries. The pipe would also transport oil from the Bakken formation in North Dakota and Montana.

Congressional pressure on the Administration to do so may increase in 2013, including members from President Obama's own party. For example, two highly competitive Senate races were won by Democrats Senator Jon Tester (MT) and Heidi Heitkamp (ND), both of whom rallied behind the Keystone project during their campaigns this year. On the other hand, environmental groups strenuously oppose the pipeline's extension in the United States, recently demonstrating so by staging a protest in front of the White House November 18.

Mogel & Sweet's call: Keystone XL will be approved.