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Bloomberg

Biden Pipe to Bar Keystone, a reversal of an early Trump move

(Bloomberg) – Joe Biden will cancel the Keystone XL oil pipeline hours after becoming president on Wednesday, again killing a cross-border project that was postponed for four years under his Republican predecessor, Donald Trump. Following major environmental actions, Cancel will cancel TC Energy Corp.’s pipeline permit. Through an executive order because it does not “serve the national interest of the U.S.,” according to the factsheet of its transition team. The move brings Keystone’s fate to the full circle, and repeats itself. A decision made in 2015 by President Barack Obama to preserve Trump crossed the border. Trump turned it around in 2017 on his fourth full day in office because of opposition from environmental groups. TC Energy said it was “disappointed” and would delay work on the project, leading to the dismissal of thousands of workers. Which lasted more than a decade and repeatedly completed the pipeline will deliver much-needed energy in an environmentally responsible way, “said the Calgary-based company. TC Energy shares reduced losses after initially trading at $ 56, down 1% from the news. Environmentalists are building on the latest delay – more A dozen years since the pipeline was first proposed – it will remain. The popular “The variety that has long pushed for it to be stopped and other harmful pipes,” said Tyrann Sittenfeld, senior vice president of the “Preservation Voter League” environmental group. Biden promised action. On the campaign track, and yet its formal move still sparked outrage from oil industry leaders, some vested interests and Canadians supporting the project. “The Biden administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer. On the first day,” the union of plumbers and plumbers at the union said in an email based on pre-action news reports. Construction of the Keystone XL began as early as last year, a jump began with a $ 1.1 billion investment by Alberta County. Entire sections of the line, including one that crosses the U.S.-Canada border, have already been built. TC Energy has worked to make the project more likable to a democratic government, reporting work agreements with four major pipeline unions last August, and agreeing to sell. The route and promised to propel it completely with renewable energy.However, the Keystone XL has been a source of controversy and a litmus test for the environment almost since it was first proposed in 2005. 1,179 miles (1,897 kilometers) is designed to transport oil from Alberta via Montana, South Dakota and Nebraska, then connect to an existing grid that feeds raw. To the Gulf Coast. The line will carry up to 830,000 barrels of oil a day. Opponents say it will stimulate oil sands development, and contribute to climate change. Years ago, proponents of the controversial crude pipeline claimed that more than Canada’s cheaper and heavier crude oil would help fuel producers. From countries like Venezuela or the Middle East that are prone to conflict, but refining in Texas and Louisiana has become increasingly flexible using a lot of light oil in shale fields. More than 3.5 million barrels a day, without Keystone XL. “It’s not a topic for refineries,” said Robert Campbell, head of petroleum research at Energy Aspects Ltd. “They can switch to home light. The damage will be to oil sands producers. Alberta Prime Minister Jason Kenini on Tuesday urged Canadian Prime Minister Justin Trudeau to take steps to save the permit, saying that its repeal would “hurt bilateral relations between Canada and the United States.” Keystone XL was one of the only ones. A handful of Biden Energy and Mining projects took an explicit stance as it went on the campaign track. Environmentalists who have intensified following his move to Keystone are already pressuring him to revoke a critical permit that allows the LP LP Dakota Access oil pipeline to continue operating and take action against the Anbridge Ltd. program to replace and expand Line 3 aging pipeline from Alberta to Superior., Wisconsin. From the archive – Why the Keystone Project Controversial: QuickTake “Exciting news,” said Dallas Gold-Shen, organizer of the Indigenous Environment Network. “Now what are you going to do with Line 3 and the Dakota Access pipeline? We are happy, but we want to see what comes next. (Updates with TC Energy response and participants from the fourth paragraph.) For more articles like this, please visit us at Bloomberg.com. Sign up now to stay ahead with the most trusted business news. Source. © 2021 Bloomberg LP


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