}, "s": "FX_IDC:CADUSD", It's the reason the Alberta government had a curtailment policy recently in place to limit the amount of oil production and maintain higher prices. This is debateable. The U.S. Supreme Court upheld an injunction on KXL construction in July, leaving a ruling in place that blocks TC’s use of a federal permit that allows dredging work on pipelines across water bodies. "s": "TVC:USOIL+NYMEX:WCW1! Canadian Indigenous Deal With KXL Oil Pipeline Took Years, Aims to Unlock Long-Term Wealth By Reuters , Wire Service Content Nov. 30, 2020 By Reuters , Wire Service Content Nov. 30, 2020, at 7:16 a.m. Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Marguerita Choy, Market quotes are powered by Pseudonyms will no longer be permitted. TC Energy Corp. gave the go-ahead for construction of its $8-billion US Keystone XL Pipeline project on Tuesday, with help from the Alberta government. "d": "TSX Venture" }, Indigenous deal with KXL oil pipeline took years, aims to unlock long-term wealth. "symbols": [ The government has reached an agreement to provide financial support to Calgary-based TC Energy Corporation, enabling the completion of the KXL pipeline. TC Energy Corp., the Canadian company that owns the Keystone XL pipeline with the Alberta government, has said more than 1,000 people are out of … This investment will include $1.5 billion in equity investment in 2020, followed by a $6 billion loan guarantee in 2021. Please note that CBC does not endorse the opinions expressed in comments. Alberta's oil industry has wanted more export pipeline capacity for years in order to reduce the risk of expensive bottlenecks, such as the ones that hit the sector in 2018. "s": "INDEX:CDNC", Work to increase capacity of two other Canadian export pipelines, the government-owned Trans Mountain and Enbridge’s ENB.TO Line 3, is proceeding with fewer remaining hurdles than KXL. The scrapping of Keystone XL not only means the end of multibillion-dollar pipe dream for TC Energy Corp. -- it also leaves behind 48,000 tons of steel. { Comments on this story are moderated according to our Submission Guidelines. By Rod Nickel. Besides past legal and regulatory challenges, the construction was recently paused after a series of safety problems. Alberta Premier Jason Kenney has said the project is important because he is not certain that Trans Mountain will proceed. "height": "700", June 25, 2020 (Bemidji, MN) - The Indigenous Environmental Network, in collaboration with the Climate Alliance Mapping Project and the Keystone XL Mapping Project, have just launched the KXL Pipeline Map, an interactive tool that highlights the route of the Keystone XL (KXL) pipeline, a tar sands project of the TC Energy corporation. Audience Relations, CBC P.O. TC Energy Corp says it is continuing to advance its Keystone XL (KXL) oil pipeline, the $9 billion project that would move oil from the province of Alberta to Nebraska. The risk is why the federal government decided to purchase Trans Mountain and why the Alberta government committed billions of dollars to TC Energy last year. "plotLineColorFalling": "#FF4A68", "belowLineFillColorFalling": "rgba(255, 74, 104, 0.05)", Many officials are hoping for improved relations between Canada and the United States under President Joe Biden, but his executive order cancelling the Keystone XL pipeline dealt some of those hopes an early blow — especially in Alberta. Some analysts say these projects will provide enough capacity for the foreseeable future, now that analysts and major industry groups, including OPEC, expect that global oil demand will peak sooner than was previously anticipated. is going to block it all.". }, * Prices as of Previous Day Close. Keystone XL was an early target in a strategy by environmentalists to choke the expansion of Canada’s oil sands by opposing new pipelines to move its crude to refineries. "title": "Indices", The Trans Mountain expansion has faced a slew of its own setbacks, yet construction continues on the pipelines that will transport oil from Edmonton to the Vancouver area for export. To a certain extent, TransCanada and rival pipeline operator Enbridge Inc. ENB, +2.78%, which has some pipeline-extension projects of its own, should also be part of the equation. TC continues to plan for a 2023 in-service date. The Keystone XL tar sands pipeline would send a flood of toxic tar sands oil—one of the dirtiest fuels in the world—through America’s heartland. "d": "WTI Crude" WATCH: MB “All-In-One” Operations Platform: Stop using multiple systems and save money! }, Other Selected Commodities 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 … "d": "TSX Composite" Have questions? TC is also framing KXL as a jobs-creating project that could bolster Biden’s Build Back Better economic plan. Box 500 Station A Toronto, ON Canada, M5W 1E6. "d": "TSX Energy" "s": "UKOIL", Feeling Optimistic as Oil Prices are on the Rise – We’re Ready! As for Trans Mountain, the public spotlight has always shone brightly on the multi-billion dollar expansion project. It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. TC Energy Corp. has awarded six U.S. union contractors $1.6 billion in contracts to build the long-delayed and controversial Keystone XL Pipeline in … "I really don't think that'll happen, either," he said. { No doubt, the pressure from the oilpatch on the prime minister to complete Trans Mountain will intensify after this week. We reserve the right to close comments at any time. { The KXL pipeline cancellation was a victory of the “net-zero movement, which is the movement that says that we should eliminate any impact on climate at all costs,” he said. "locale": "en", A conference call and webcast was held on Friday, February 19, … Heavy Oil Show (LHOS 2022). CALGARY, Alberta (Reuters) - U.S. President Joe Biden on Wednesday formally revoked the permit needed to build the Keystone XL oil pipeline (KXL… If built, TransCanada's Keystone XL (KXL) pipeline would carry tar sands crude, or bitumen (“dilbit”) from { Help us to improve EnergyNow, Give us your feedback, Prevent Runaway Water Heating Costs and Keep your Well Completions Budget in Check. It's owned by the federal government and is under construction, but many wonder if the oil pipeline will ever be completed. }, Canadian oil and gas production declines, and there could be ample export capacity with Enbridge's Line 3 and the Trans Mountain expansion. "I think that B.C. In fact, the demise of Keystone XL could invigorate opponents of Trans Mountain to try to stop that pipeline project too, she said. "d": "DOW JONES Index" Former U.S. President Barack Obama, a Democrat, axed the project in 2015, saying Canada would reap most of the economic benefits while the project would add to greenhouse gas emissions. } { Also: The Keystone XL pipeline, canceled. { That surprised some, as KXL has been slowed by legal issues in the United States, and faces a potential fatal blow next year when President-elect Joseph Biden takes office, if he follows through on a vow to scrap KXL’s presidential permit. President-elect Joe Biden's incoming administration plans to rescind the permit for the Keystone XL pipeline on his first day in office, two sources … Biden to revoke KXL pipeline permit in blow to Canada's oil sector By Rod Nickel and Nia Williams 1/20/2021 NRA is 'out of ammo' as it faces a legal mess of its own making, many experts say
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