TC Energy just confirmed what we already knew but it’s a thrilling reality all the same — the Keystone XL pipeline is no more and never will be. This is yet another huge moment in an historic effort.
Native tribes and communities are counting on the President to use the same rationale he’s using to kill Keystone XL to stop all projects like it — including the Line 3 pipeline in Minnesota — and roll back the approval of the Dakota Access pipeline.
Today across the nation, activists in 60 cities and 25 states plan to utilize COVID-safe and creative ways to deliver letters calling on major banks to distance themselves from the funding of the toxic Keystone XL and Enbridge’s Line 3 tar sands pipelines.
A broad coalition of Indigenous, landowner, environmental, and conservation groups called on TC Energy to immediately halt all activity on its Keystone XL pipeline project due to the coronavirus public health threat.
Today, the Government of Alberta announced that it would support TC Energy’s Keystone XL oil pipeline, with a direct investment of more than USD 1 billion.
This briefing outlines compelling reasons for investors to question whether TransCanada should proceed with Keystone XL given various obstacles facing its construction and commercially viable operation, and suggests questions institutional financiers may wish to ask TransCanada.
This new investor briefing examines the current state of the Keystone XL pipeline and the legal, regulatory, and political obstacles that its owner TransCanada continues to face.
“When even Enbridge is calling this a subsidy, you know Alberta’s XL bailout is another desperate attempt at a lifeline for a pipeline that will never be built. Keystone XL would be a disaster for the climate, and watching governments bend over backwards to be a part of that is heartbreaking in a year where you could barely catch your breath between climate disasters.”
As millions celebrate Thanksgiving, the bosses at TransCanada will not be in a cheerful, festive mood. They will be wondering what went wrong over the last week, after they seem to have snatched defeat from the jaws of victory.