Letter from Canada: Keystone XL’s demise a fiasco and opportunity
The Canadian oilsands industry should now be clear where it stands and plan accordingly
Incoming US president Joe Biden pulling the presidential permit for Canadian midstreamer TC Energy’s controversial Keystone XL (KXL) project had been widely anticipated. Alberta Premier Jason Kenney was perhaps the unhappy exception, and the Canadian upstream sector should avoid repeating or compounding his mistakes. Upon learning Biden would likely announce a decision to scrap KXL as early as his inauguration day, Kenney came out guns blazing. He demanded the US “show respect for Canada”, as well as threatening a lawsuit in conjunction with TC Energy. When Biden did then formally revoke the presidential permit for KXL, Kenney referred to it as a “gut punch” to Canada-US trade relations. An
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources