President Obama’s rejection of the Keystone XL oil pipeline might not be the end of the road for the controversial project.

TransCanada Corp. has pledged to explore its remaining options for building the Canada-to-Texas pipeline, including filing a new application with the State Department.

“There is a chance it’s not dead,” said Steven Paget, an analyst at FirstEnergy Capital in Calgary, Alberta.

In a Friday statement, TransCanada declined to offer specifics about its next steps. But observers say the main options are filing an international challenge under the North American Free Trade Agreement (NAFTA), seeking an act of Congress to override Obama or waiting until a new president takes office in January 2017 to file for a new permit.

Read the article “Keystone XL: Not Dead Yet?” on thehill.com.