They just gave up on a lawsuit in Nebraska over their attempt to assert extraordinary eminent domain rights:

TransCanada announced on Tuesday that the company will pull out of the lawsuit filed by over 100 Nebraska landowners challenging their right to use eminent domain to seize land for the Keystone XL tar sands pipeline.

Facing mounting legal expenses and a likely loss in court, the company will instead go through the Public Service Commission (PSC) review process it had originally hoped to avoid.

“We believe that going through the PSC process is the clearest path to achieving route certainty for the Keystone XL Project in Nebraska. It ultimately saves time, reduces conflict with those who oppose the project and sets clear rules for approval of the route,” said a representative of the company in a statement.

The PSC process will take at least a year, and cannot move forward if and when President Obama rejects the federal permit for the pipeline.

………

“TransCanada realizes that LB 1161 is unconstitutional,” added Art Tanderup, a farmer whose land is on the proposed pipeline route. “This is a victory for landowners standing up to prevent a foreign corporation from taking their land for corporate greed through eminent domain. TransCanada pushed LB1161 through the legislature to avoid using the Public Service Commission procedure that they now want to follow. We believe that the PSC will not allow Keystone XL to be placed in the Sand Hills or over the Ogallala Aquifer but are confident President Obama will reject the pipeline before the PSC even has a chance to conduct a review.”

So, TransCanada, the company that ignores regulations, and leans on lawmakers to exempt them from regulations, and then has their pipelines blow up, has decided that their latest attempt to subvert the regulatory prices isn’t going to work.

They lose, and the rest of us win.

I can live with that.