Developer of Keystone XL oil project abandons pipeline

workers keystone xl pipeline
UA Pipefitters work on construction of the Keystone XL Pipeline.

  • TC Energy Corp announced they would cancel the Keystone XL pipeline Wednesday.
  • The move comes months after President Joe Biden revoked a key permit for the pipeline.
  • The move is a win for environmentalists who have opposed the project for a decade.
  • See more stories on Insider’s business page.

Environmentalists secured a win on Wednesday when Canada’s TC Energy Corp and the Albertan provincial government announced they would cancel the controversial Keystone XL pipeline, more than a decade after it was first proposed.

The 1,200-mile line was an effort to carry more Canadian crude through the US, including Montana, South Dakota, to Steele City, Nebraska. The pipeline would have moved 35 million gallons of crude each day, connecting to other pipelines that feed refineries along the Gulf Coast, according to The Associated Press.

The project has been a point of contention among environmental activists and community groups for years.

The decision to abandon the project was expected after President Joe Biden revoked the pipeline’s permit to cross into the US’s northern border in January. Construction on the pipeline shut down that same day.

“We value the strong relationships we’ve built through the development of this Project and the experience we’ve gained,” TC Energy President and CEO François Poirier said in a statement.

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GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers

Sen. Rand Paul of Kentucky
Sen. Rand Paul (R-Kentucky).

  • Republican Senator Rand Paul said that President Biden’s push for a $15 minimum wage would hurt Black teenagers.
  • “‘Why does Joe Biden hate Black teenagers?’ should be the question,” Paul said.
  • The current federal minimum wage is $7.25 an hour.
  • Visit Business Insider’s homepage for more stories.

GOP Sen. Rand Paul of Kentucky on Friday came out swinging against President Joe Biden, saying that the Democratic president’s push for a $15 minimum wage would hurt Black youth.

During an interview with Fox host Sean Hannity, Paul alleged that a minimum wage increase would put 4 million people out of work.

“The people who lose their jobs first when you hike up the minimum wage are Black teenagers,” Paul said. “So, you know, ‘Why does Joe Biden hate Black teenagers?’ should be the question. Why does Joe Biden want to destroy all of these jobs?”

He added: “Even the government says that nearly 4 million people will lose their jobs.”

According to a Congressional Budget Office report, there’s a two-thirds chance that raising the minimum wage to $15 by 2025 would cause zero job losses on the low end of estimates to 3.7 million job losses on the high end of estimates, with a median CBO estimate of 1.3 million job losses.

However, the CBO also estimates that a $15 minimum wage would increase pay for 17 million workers.

Read more: The ultimate guide to Biden’s White House staff

Paul cited the highest CBO job loss estimate in his interview with Hannity.

The current federal minimum wage is $7.25 an hour, but states and many localities can set higher minimum wages. Kentucky’s minimum wage sits at $7.25 an hour.

The federal minimum wage has been unchanged since July 2009.

Black communities have been hit harder than other demographic groups during the coronavirus pandemic. Government data last summer showed Black Americans were disproportionately affected by mass layoffs. Meanwhile, Gen Z has been the hardest hit in the labor market and are now on track to repeat millennials’ money problems, as Business Insider’s Hillary Hoffower reported in December.

Paul also blasted Biden for canceling the Keystone XL oil pipeline, a decision that leading Democrats have long sought, much to the consternation of Republicans, who point to job losses.

“It’s kind of a strange beginning to an administration,” Paul said. “You’re going to put your best foot forward and the first thing you say is, ‘This is how I’m going to kill jobs’ … ‘I’m going to kill thousands of jobs of the Keystone pipeline with ending it.'”

While in office, former President Donald Trump championed the US-Canada project, saying it would create 28,000 US jobs, a number that was disputed by The Washington Post in 2017. That same year, ABC News also noted that the majority of the jobs involving the pipeline would be temporary.

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President-elect Joe Biden plans to issue an executive order canceling the Keystone XL pipeline permit, report says

FILE PHOTO: People protest against President Donald Trump's executive order fast-tracking the Keystone XL and Dakota Access oil pipelines in Los Angeles, California, U.S., March 10, 2017. REUTERS/Lucy Nicholson
People protest against President Donald Trump’s executive order fast-tracking the Keystone XL and Dakota Access oil pipelines in Los Angeles.

  • President-elect Joe Biden will issue an executive order on his first day in office to rescind the Keystone XL pipeline project.
  • The Keystone XL is part of a multi-phase construction project aimed at creating a direct oil pipeline to the US from the oil sands of Alberta.
  • President Barack Obama had previously rejected the project because of the environmental threat the pipeline would create to native species and lands.
  • President Donald Trump fought during his term to get the project in gear, but had little success in countering US court rulings on it. 
  • Visit Business Insider’s homepage for more stories.

President-elect Joe Biden plans on canceling the controversial Keystone XL pipeline permit via executive order on his first day of office, sources told CBC News

According to CBC, the order was part of a larger planned list of executive actions meant to reverse some of President Donald Trump’s key policies. They include re-joining the Paris Climate Accord and reversing the Muslim travel ban Trump instituted in his first days in office. Biden also plans on instituting a 100-day mask-wearing mandate. 

“These executive actions will deliver relief to the millions of Americans that are struggling in the face of these crises,” Ron Klain, Biden’s incoming chief of staff, said in the memo released over the weekend seen by the AP. “President-elect Biden will take action – not just to reverse the gravest damages of the Trump administration – but also to start moving our country forward.”

Insider has reached out to the Biden transition team for further comment.

The proposed Keystone XL pipeline has been in development for more than ten years, and was approved by the Canadian National Energy Board in 2010. As planned, it would be a 1,179-mile pipeline running from Alberta, Canada, to Nebraska, carrying more than 800,000 barrels of oil a day. 

But the project failed to get off the ground during President Barack Obama’s administration. Obama balked at the plan, arguing that the environmental devastation the pipeline would cause would be too high a price to pay.

Read more: At one end of the Keystone XL oil pipeline, there is a scene you must see to believe

“America is now a global leader when it comes to taking serious action on climate change,” Obama said in 2015. “Frankly, approving that project would have undercut that global leadership, and that is the biggest risk we face: not acting.”

When Trump entered office in 2017, he almost immediately revived conversation around the pipeline, fast-tracking the project because he said it would create nearly 30,000 US jobs, a number the Washington Post disputed at the time, and ABC News noted that the vast majority of those roles would be temporary.
 

Environmental lobbyists were able to successfully stanch the project for several years, and by 2020, enthusiasm for the project had begun to wane. In June 2020, Trump took the Keystone XL case to the Supreme Court to dispute a lower court ruling that prevented work on the pipeline to continue because of the environmental damage it was causing. The Supreme Court sent the case back down to the lower courts. 

Read more: Keystone XL does not make sense. 

The reported rescission of the Keystone XL permit is among several climate change-related changes Biden’s team plans to make in the early days of his administration. 

Jason Kenney, the premier of Alberta, said in a statement posted to Twitter he was concerned that rescinding the permit would “kill jobs on both sides of the border, weaken the critically important Canada-US relationship, and undermine US national security by making the United States more dependent on OPEC oil imports in the future.”

Canadian Prime Minister Justin Trudeau has said that he would press for a continuation of the pipeline project with the new administration.

“It has been a long position of mine that we need to get our resources to new markets safely and securely, and that’s why I’ve always advocated for the Keystone XL pipeline,” Trudeau said in a May 2020 press conference.

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