Saturday, 19 June, 2021


Keystone XL pipeline officially canceled after President Biden blocked border-crossing permit

Keystone XL- Image from CHATNews			By Connor Gunn	
		Alberta terminates involvement with Keystone XL project				Jun 9 2021 | 3:07 PM Keystone XL- Image from CHATNews By Connor Gunn Alberta terminates involvement with Keystone XL project Jun 9 2021 | 3:07 PM
Noah Ferguson | 10 June, 2021, 15:40

Alberta had invested $1.5 billion in equity investment and a $6 billion loan guarantee in the project.

Alberta will work with US partners to meet the country's energy demands "through the responsible development and transportation of our resources", Kenney said.

TC Energy and the province said they would look at their options in the wake of the cancellation, but TC Energy said the pipeline extension was officially dead as of Wednesday.

"We remain disappointed and frustrated with the circumstances surrounding the Keystone XL project, including the cancellation of the presidential permit for the pipeline's border crossing".

The announcement comes just hours after Republican senators demanded the Biden administration account for the number of jobs killed by the president's decision to cancel the 1,200 mile-long pipeline.

The Government of Alberta and TC Energy Corporation have agreed to an exit from the Keystone XL project and partnership, with final costs to the Alberta government expected to be $1.3 billion.

Keystone's demise follows cancellations of Northern Gateway and TransCanada Corp.'s Energy East and a delay in Trans Mountain, which the Canadian government bought in 2019 for $4.5 billion from Kinder Morgan.

TC Energy shares closed largely flat on the Toronto Stock Exchange.

The company said it would continue to look for opportunities in the energy transition and in powering existing US assets with renewable energy.

The pipeline, meanwhile, was slated to carry 830,000 barrels of oil per day from the Alberta oil sands to Nebraska. It would then connect with the original Keystone that runs to US refineries on the Gulf Coast.

Some 200 kilometres of pipeline have already been laid, including across the Canada-U.S. border.

Republicans immediately pounced on the move, blaming Biden for the cancellation and contrasting the president's opposition to Keystone XL with his administration's approach to Nord Stream 2, a pipeline to transport natural gas from Russian Federation to Germany.

The roughly $2 trillion bill has been ardently opposed by Republicans for its hefty price tag and tax increases. "So in this moment, we ask President Biden to pause all other pipelines, like Line 3 in rural Minnesota, to show communities respect and to finally conduct the proper water, cultural resources and climate studies those pipelines never got under the reckless Trump administration".

"Good riddance to Keystone XL", said Jared Margolis with the Center for Biological Diversity, one of many environmental groups that sued to stop it.

"We need to keep moving away from dirty, unsafe pipelines that lock us into an unsustainable future", he said in a statement.

"When this fight began, people thought "Big Oil" couldn't be beat", said Bill McKibben, the founder of 350.org, who led the first sit-ins against Keystone XL at the White House in 2011.

Dale Swampy, president of the National Coalition of Chiefs had complained in January that its cancellation would mean fewer jobs for Indigenous people in constructing the people and supplying goods and services for it.

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