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Stock impact report

Keystone XL Revival Gains Momentum as New Pipeline Plan Emerges [Yahoo! Finance]

South Bow Corporation Common Shares (SOBO) 
Company Research Source: Yahoo! Finance
An oil pipeline crossing the Canada-US border may be back on government agendas, as the proponent, South Bow Corp (TSX:SOBO), looks to revive the long-dead project. TC Energy (TSX:TRP) spun the oil pipeline component of its business out to South Bow in 2024 to concentrate on natural gas and power. The rationale for Keystone was a way to bring together booming US oil production, and to a lesser extent, production from the oil sands in Northern Alberta, to Gulf Coast refineries that were facing declining imports from Mexico and Venezuela. The project was first proposed in 2008 and was supposed to begin carrying 830,000 barrels a day in 2012. But the Obama administration struck it down on environmental grounds. President Trump then revived it during his first term, before Joe Biden killed it again by revoking the pipeline's permit on his first day as president in 2021. A network of pipelines called the Keystone Pipeline already exists and moves oil within the United States. The Show less Read more
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