TransCanada abandons Canada east-west pipeline bid

TransCanada announced Thursday it was abandoning its bid to build an east-west pipeline that would have moved crude from Alberta's oil sands to refineries on Canada's Atlantic coast.The 4,500-kilometer (2,800-mile) Energy East pipeline, which would have carried 1.1 million barrels of oil per day, had presented an opportunity to wean Canada off foreign oil as refineries in eastern Quebec and New Brunswick rely mostly on imports.