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This will allow the producers to ship to the high-paying Asian region instead of the U.S. Midwest, where excess crude at the Oklahoma storage hub has decreased prices.
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Unless the President objected, December's payroll tax deal gave TransCanada the go-ahead in February to start building the pipeline, which would travel 1, 661 miles from Alberta to interconnections in Oklahoma and then carry Canadian crude to U.S. refiners on the Gulf Coast.
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Now, the landlocked crude in Cushing, Oklahoma will be delivered to the refiners in the Houston-area.
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Romney scored here, hitting at the president for blocking the Keystone XL pipeline which would have brought crude from Canada to Oklahoma.
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The family business Charles inherited consisted of an engineering firm, part-interest in a Minnesota refinery, a crude-oil-gathering pipeline in Oklahoma and some cattle ranches.
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Dozens of small oil and gas producers across Oklahoma and the Midwest are suing Goldman Sachs, BP and ConocoPhillips, claiming the defendants conspired to defraud them out of proceeds for crude oil they delivered just before the collapse of Oklahoma-based pipeline giant Semgroup in the summer of 2008.
FORBES: BP And Goldman Sachs Sued For Oil Fraud