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Biden Formally Kills Keystone XL Crude Oil Pipeline


Industry Segment: Pipelines | Word Count: 824 Words

SUGAR LAND--January 21, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Hours before taking the reins yesterday, President Joe Biden's office released a fact sheet outlining the planned executive orders that Biden intended to take on his first day in office. Many orders are aimed against moves made by former-President Trump during his tenure, and named specifically is a decision to axe the permit for TC Energy Corporation's (NYSE:TRP) (Calgary, Alberta) Keystone XL crude oil pipeline, planned to carry approximately 830,000 barrels per day from Alberta's oil sands to destinations in the U.S. Midwest and Nebraska, where it will join the originally constructed Keystone Pipeline to deliver oil the U.S. Gulf Coast.

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