Canada encouraged by new TransCanada application

Fri May 4, 2012 10:46am EDT
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TORONTO (Reuters) - Canada is encouraged by TransCanada Corp's (TRP.TO: Quote) (TRP.N: Quote) decision to file a new application for its Keystone XL pipeline, Natural Resources Minister Joe Oliver said on Friday.

Oliver also told reporters that Canada could not rely on the United States to buy all its oil and would therefore continue looking for new markets for Canadian crude.

(Reporting by Euan Rocha, writing by David Ljunggren)