The financial markets may be betting that the Keystone XL pipeline is a done deal.
The U.S. House and Senate have now both passed bills to force approval of the controversial pipeline. The southern leg of the project already delivers oil from Cushing, Oklahoma to the Texas Gulf Coast. But approval of the full build-out would link existing pipe to the Canadian border, allowing more crude from the tar sands of Canada to reach Texas refineries via Cushing.
President Obama has vowed to veto the bills, but one expert says the fate of the project may already be written in futures contracts for crude oil.