Published: Thu, June 10, 2021
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TC Energy scraps KXL project after President Biden revokes key permit

TC Energy scraps KXL project after President Biden revokes key permit

There is an "opportunity cost for thousands of American workers, some of which already have lost their jobs on this project, and the communities along the pipeline route that would have received millions in tax revenue to support their schools and infrastructure", Durbin said.

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Construction on the 1,200-mile pipeline began a year ago when former President Trump revived the long-delayed project after it had stalled under the Obama administration.

The announcements come after US president Joe Biden signed an executive order to revoke the pipeline's permit on his first day in office in January - a move he had promised during his election campaign.

The pipeline, which began construction past year, would have carried more than 800,000 additional barrels a day of diluted bitumen from Alberta's oilsands to Nebraska and refineries along the U.S. Gulf Coast.

TC Energy says it will be working with regulators, stakeholders and Indigenous groups to ensure a safe termination, and exit, from the Project.

TC Energy, which is based in Calgary, Canada, provided few details as to why it is pulling out of the project, which was first proposed in 2008 and would carry hundreds of thousands of barrels of oil per day from Canada into the United States.

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.

Climate change activists viewed the expansion of oil sands development as an environmental disaster that could speed up global warming as the fuel is burned.

"The fight to stop Keystone XL was never about one pipeline", Mackey said in a news release. Environmentalists, Native Americans, and some landowners had opposed the move.

Canadian officials failed to persuade the Biden administration to reverse the cancellation. "At a time when Canadians are desperate to get back to work, the loss of this important project only makes this harder", said federal Conservative party leader Erin O'Toole.

The Alberta government and TC Energy announced the official termination of the pipeline extension on Wednesday.

A White House spokesperson did not immediately respond to a request for comment on TC Energy's announcement. "The Company continues to progress $20 billion of secured growth projects, $7 billion of projects under development, and numerous additional initiatives aligned with its risk preferences and return criteria across its business lines and geographies". The Keystone XL project was first approved by the National Energy Board in 2007. When you've submitted your account email, we will send an email with a reset code.

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