Should the US government be on the hook for $15 billion? - Oil (General) oilprice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oilprice.com Daily Mail and Mail on Sunday newspapers.
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On January 20, 2021, President Joe Biden signed an executive order revoking the presidential permit for the Keystone XL pipeline border crossing. While this is not the first time a U.S president has issued such a directive, it may be the final blow for a project that has been in progress for more than a decade.
Both TC Energy and the Canadian government quickly censured the move. TC Energy stated in a press release that it was “disappointed with the expected order,” which overturns “an unprecedented, comprehensive regulatory process that lasted more than a decade and repeatedly concluded the pipeline would transport much-needed energy in an environmentally responsible way.”