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CALGARY, Alberta (Reuters) – U.S. President Joe Biden on Wednesday formally revoked the permit needed to build the Keystone XL oil pipeline (KXL), dashing Ottawa’s hopes of salvaging the $8 billion project that the struggling Canadian crude sector has long supported. FILE PHOTO: A depot used to store pipes for the planned Keystone XL oil pipeline is seen in Gascoyne, North Dakota, January 25, 2017. REUTERS/Terray Sylvester/File Photo The move represents another set-back for the beleaguered Canadian oil industry, in particular its energy heartland Alberta, kills thousands of jobs, and marks an early bump in Biden’s relationship with Canada, a key trading partner. Keystone XL, owned by TC Energy Corp, is already under construction in Canada, and would carry 830,000 barrels per day of Alberta oil sands crude to Nebraska. But opposition from U.S. landowners, Native American tribes, and environmentalists has delayed the project for the past 12 years and Biden had long pledged to scrap the permit. “While we welcome the President’s commitment to fight climate change, we are disappointed but acknowledge the President’s decision to fulfill his election campaign promise on Keystone XL,” Canadian Prime Minister Justin Trudeau said in a statement. Alberta Premier Jason Kenney, who […]
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