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Reuters CALGARY, Alberta – U.S. President-elect Joe Biden on Wednesday will revoke the permit needed to build the Keystone XL oil pipeline after being sworn into office, aides said, dashing Ottawa’s hopes of salvaging a project that the struggling Canadian crude sector has long supported. Source: Reuters Biden will sign 15 executive orders and memorandums to address the “crises” of the pandemic, climate change and racial inequity, said incoming press secretary Jen Psaki. 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. Opposition from U.S. landowners, Native American tribes and environmentalists has delayed the project for the past 12 years, but outgoing Republican President Donald Trump had revived the project. In a statement, TC Energy said it was disappointed with Biden’s expected decision, saying it would overturn a regulatory process that had lasted more than a decade. The company said the decision would lead to layoffs for thousands of unionized construction workers. Canada, the world’s fourth-largest crude producer, ships most of that output to U.S. refineries. Canadian producers, who have struggled for years from low prices partly related to sometimes-congested pipelines, […]
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