Canada Considers Selling Keystone XL for Scrap as Biden is Expected to Cancel the Pipeline Project

Canadian province Alberta is considering to sell pipes and materials of the Keystone XL pipeline in an attempt to regain some funds after investing C$1.5 billion (US$1.1 billion) of taxpayers’ money for the project.

Canadian province Alberta is considering to sell pipes and materials of the Keystone XL pipeline in an attempt to regain some funds after investing C$1.5 billion (US$1.1 billion) of taxpayers’ money for the project.

“If the project ends, there would be assets that could be sold, such as enormous quantities of pipe. That would offset construction costs,” Alberta Premier Jason Kenney said in a press conference last Jan. 17.

United States President-elect Joe Biden is expected to cancel the C$10 billion (US$8 billion) project once sworn into office on Jan. 20 as promised during his election campaign over concerns on fossil fuels that contribute to climate change.

CBC News reported last Jan. 17 that to “rescind Keystone XL pipeline permit” was included on a list of Biden’s executive actions likely to be scheduled on his first day in the office.

Kenney said in a statement that he was “deeply concerned” of the reports that Biden may revoke the pipeline permit.

“Doing so would kill jobs on both sides of the border, weaken the critically important Canada-U.S. relationship, and undermine the U.S. national security by making the United States more dependent on OPEC (Organization of the Petroleum Exporting Countries) oil imports in the future,” Kenney stated.

Kenney also said in the press conference that canceling the pipeline would cost taxpayers in Alberta over C$1 billion (US$785 million).

According to Kenney, Alberta and natural gas company TC Energy have a “very solid legal basis” to seek damages in courts under international free trade agreements if the project is canceled.

“Should the incoming U.S. Administration abrogate the Keystone-XL permit, Alberta will work with TC Energy to use all legal avenues available to protect its interest in the project,” Kenney said in a statement.


© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.