For Trudeau, Life After Trump Is Off to a Rocky Start
Bloomberg 1/21/2021 Kait Bolongaro and Robert Tuttle
(Bloomberg) President Joe Biden’s cancellation of the Keystone XL project has put Justin Trudeau in a no-win situation. He has no good options to retaliate. But a failure to fight back could fracture the unity of his own country.
Biden revoked the permit for TC Energy Corp.’s oil pipeline via executive order hours after his inauguration on Wednesday. The cross-border project would have transported more than 800,000 barrels a day from the western province of Alberta to Nebraska, and from there to U.S. refineries.
For Trudeau, Life After Trump Is Off to a Rocky Start
Bloomberg 1/21/2021 Kait Bolongaro and Robert Tuttle
(Bloomberg) President Joe Biden’s cancellation of the Keystone XL project has put Justin Trudeau in a no-win situation. He has no good options to retaliate. But a failure to fight back could fracture the unity of his own country.
Biden revoked the permit for TC Energy Corp.’s oil pipeline via executive order hours after his inauguration on Wednesday. The cross-border project would have transported more than 800,000 barrels a day from the western province of Alberta to Nebraska, and from there to U.S. refineries.
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Here are the top news stories covering Canada’s energy landscape:
Canadian Chamber of Commerce: Canada’s Energy Security Depends on Completion of Line 5 in Michigan
Canada’s Chamber of Commerce along with the federal government and several federal agencies are calling upon the U.S. and Michigan Governor Gretchen Whitmer to reconsider revoking easement permits issued for Line 5 back in the 1950s.
Line 5, which begins in the U.S. in northern Wisconsin and runs through both peninsulas of Michigan and back to Canada, supplies a significant amount of crude oil to refineries in Sarnia, Ontario and Quebec. Nonetheless, Canadians and energy industry professionals are sounding the alarm on what a potential closure of Line 5 by Michigan’s Governor could potentially hinder Canada’s energy security.
Canada’s oil sands production hit a record high in November, according to the latest regulatory data, and will likely continue to rise as producers ramp up output following the end of provincial government production curtailments in Alberta. Northern Alberta’s oil sands account for roughly two thirds of crude output from Canada, which is the world’s .
Canada's oil sands production hit a record high in November, according to the latest regulatory data, and will likely continue to rise as producers ramp up output.