Western Canada: Keystone XL’s death leaves Alberta on the hook – and looking for another fight [Toronto Globe and Mail (Ontario, Canada)]
TC Energy Corporation (TRP)
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Source: Toronto Globe and Mail
Western Canada: Keystone XL’s death leaves Alberta on the hook – and looking for another fight Good morning. It’s James Keller in Calgary. TC Energy’s decision this week to terminate the Keystone XL pipeline was hardly a surprise. Joe Biden’s win in last year’s U.S. presidential election, after campaigning to kill the project, still left some holding out faint hope he could be convinced to change course. But his inauguration-day executive order pulling the pipeline’s cross-border permit seemed to leave no path to revive the project, which would have provided a much-needed direct route for Alberta crude. The Calgary-based company said it made the decision after a comprehensive review of its options . TC clearly determined there were none left, and will instead focus on safely winding up the project. The reaction from the business community was muted, given the apparent preordained nature of the decision, and while TC’s stock price dropped the day after the cancellation, it has already
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