Keystone XL officially died in June 2021
Earlier this month, TC Energy published their third quarter results for 2021. In it, they provided an update on the Keystone XL project.
As I pointed out nearly 2 years ago, the Alberta government announced in early 2020 that they planned to spend $1.5 billion on shares in the TC Energy subsidiary building the Keystone XL pipeline. They also announced $6 billion in loan guarantees.
That pipeline was cancelled after US president, Joe Biden, kept his campaign promise to revoke the presidential permit issued under his predecessor that allowed the pipeline to be built.
That put the Alberta government on the hook for a lot of money.
For example, the 2021–2022 provincial budget outlined Alberta’s financial commitment fares as a result of the shutdown of the pipeline construction.
Read more about Alberta’s involvement in today’s story on Kim Siever News.
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