TransCanada Corporation has filed suit against the U.S. government, over the Obama Administration's denial of a permit to build the Keystone XL pipeline. The company filed the suit in federal court in Houston earlier today.
The pipeline company, which has a significant presence in Houston, charges that President Obama exceeded his authority under the U.S. Constitution in denying the permit.
TransCanada has also announced plans to file a claim against the U.S. under Chapter 11 of the North American Free Trade Agreement. It's seeking to recover more than $15 billion in costs and damages.