​Further bad news for oil sector as Obama plans Keystone veto and Crescent Point announces spending

​Further bad news for oil sector as Obama plans Keystone veto and Crescent Point announces spending

​Further bad news for oil sector as Obama plans Keystone veto and Crescent Point announces spending America’s Congress was back at work today and one of its earliest votes will be on the future of the Keystone XL pipeline. TransCanada’s long awaited pipeline may get through the vote but The White House has said today that President Obama would veto any legislation approving the construction. Meanwhile another Canadian energy firm has announced plans to cut back on capital spending this year. Crescent Point Energy has revised its plans announced in November and will now spend 28 per cent less.