Biden Admin Kills Keystone Energy Source

LI: Biden Permanently Kills Keystone XL Pipeline, Developer Abandons Project After Permit Pulled "Meanwhile, energy costs are fueling inflation and Russian oil will soon be flowing through its new pipeline."

When Biden entered office, he promptly nixed the Keystone XL Pipeline.

Afterwards, workers on the system protested the loss of jobs. Attorneys General from the impacted states explored their legal options.

Sadly, however, the economic impact of lost jobs and decreased gas production looks like it will be a hallmark of the current administration as the developer has now abandoned the project.

Canada’s TC Energy Corp. and the Albertan provincial government said Wednesday they would scuttle the Keystone XL oil pipeline project, bringing to an end a yearslong controversy over an effort to pipe more Canadian crude to the U.S.

The decision had been expected after President Biden used his first day in office to revoke a key permit for the pipeline to cross the country’s northern border, shutting down construction.

It is a victory for environmentalists who have campaigned to block new pipeline construction as a way to limit oil consumption that contributes to global warming.

Biden’s move was a slap in the face to Canada…which means the current adminiistration has managed to aggravate our neighbors to both the north as well as the south!

Alberta invested more than $1 billion in the project last year, kick-starting construction that had stalled amid determined opposition to the line from environmentalists and Native American tribes along its route.

Alberta officials said Wednesday they reached an agreement with TC Energy, formerly known as TransCanada, to exit that partnership. The company and province plan to try to recoup the government’s investment, although neither offered any immediate details on how that would happen.

“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 said in a statement.

The province had hoped the pipeline would spur increased development in the oil sands and bring tens of billions of dollars in royalties over decades.

Perhaps if Alberta declared itself to be part of Russia, this issue could have been resolved. Biden seems to have no problem with that nation’s oil-production projects. I guess the need for a clean environment stops at the North American border?

Never mind that the opposition to the pipeline was based on bogus environmental damage claims, and the a bogus hope that restricting the extraction of the oil will stall CO2 emissions leading to global climate weirding, or what ever they are calling it these days. The oil will still be extracted, and largely shipped to Texas via Democrat friend Warren Buffett's Burlington Northern Santa Fe railroad. Rail transport of oil is less energy efficient, and more accident prone than transport by pipeline, so it's likely that this will increase carbon emissions, and environmental damage incidents.