TransCanada is now more careful about future cross-border projects because of setbacks in the approval of its Keystone XL pipeline, said Alex Pourbaix, president of energy and oil pipelines at the company. "When you're involved in one of these cross-border projects, you require a presidential permit. At any time in the process, especially one that goes four or five years, you get caught up in the election cycle," Pourbaix said.

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