Alberta terminates involvement with Keystone XL project

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TC Energy, which is based in Calgary, Canada, provided few details as to why it is pulling out of the project, which was first proposed in 2008 and would carry hundreds of thousands of barrels of oil per day from Canada into the United States.

The announcements come after US president Joe Biden signed an executive order to revoke the pipeline's permit on his first day in office in January - a move he had promised during his election campaign.

Construction activities to advance the project were suspended following the revocation of its Presidential Permit on January 20, 2021.

According to projections from the Canadian Energy Regulator, the combination of the Trans Mountain Expansion Project, Enbridge Inc.'s Line 3 replacement and Keystone XL - along with existing pipeline capacity - would exceed total Canadian crude export demand through the 2050 forecast horizon.

"We value the strong relationships we've built through the development of this project and the experience we've gained".

"We remain disappointed and frustrated with the circumstances surrounding the Keystone XL project, including the cancellation of the presidential permit for the pipeline's border crossing", Alberta Premier Jason Kenney wrote in the release. "We remain grateful to the many organizations that supported the Project and would have shared in its benefits, including our partners, the Government of Alberta and Natural Law Energy, our customers, pipeline building trade unions, local communities, Indigenous groups, elected officials, landowners, the Government of Canada, contractors and suppliers, industry associations and our employees".

On Wednesday, he said the province will still work with USA partners to play a role in meeting American energy demands.

The bill would require that the Secretary of Labor report the number of jobs that have been projected to be lost following the shutdown of the pipeline's construction.

"We end up in a situation now, where those refineries are still looking to get our oil, and we have fewer ways to get it there", Masson said in an interview with CBC's Power & Politics.

Keystone's demise follows cancellations of Northern Gateway and Energy East and a delay in Trans Mountain, which the Canadian government bought in 2019 for $4.5 billion from Kinder Morgan.

NDP energy critic Kathleen Ganley called for Kenney to apologize to Albertans for "gambling" away their money.

"Now, his mismanagement and complete incompetence on this file has cost the people of Alberta north of $1 billion".

While the project has always been backed by Ottawa, Keystone XL had been opposed by environmentalists and indigenous groups.

While some Indigenous groups opposed the pipeline, one participated in oil and gas development as a solution to poverty on reserves.