TC Energy scraps Keystone XL pipeline project after Biden revokes key permit
A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday. Keystone XL, which was proposed in 2008 to bring oil from Canada's Western tar sands to U.S. refiners, was halted by owner TC Energy Corp after U.S. President Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project. The Keystone XL pipeline was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska, but the project was delayed for the past 12 years due to opposition from U.S. landowners, Native American tribes and environmentalists. TC Energy owns the existing Keystone oil pipeline, which runs from Alberta to the U.S. oil storage hub in Cushing, Oklahoma, and to the U.S. Gulf, along with a power and storage business. "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," Alberta Premier Jason Kenney said in a statement. Former U.S. President Donald Trump had approved a permit for the line in 2017, but it continued to face legal challenges that hampered construction. Biden had committed to canceling the project during his campaign and revoked the permit soon after taking office.