Monday, July 12, 2021

Biden’s Pipeline Perfidy: The U.S. Faces a Keystone XL Cancellation Penalty; Company Behind Keystone XL Pipeline Seeks $15B in Damages From the Biden Administration

AP Photo/Evan Vucci
Biden’s pipeline perfidy: The U.S. faces a Keystone XL cancellation penalty:
Auto owners are well aware that smooth motoring without jackrabbit starts and stops is the most efficient way to drive. The same goes for implementing national energy policy, but President Biden is demonstrating that he isn’t keen on efficiency. Decisions he has made meant to decelerate the use of fossil fuels are already costing Americans dearly, and Uncle Sam could wind up paying a heavy price as well.
Mr. Biden’s abrupt cancellation of the Keystone XL pipeline has set an ominous tone for the future of affordable fuel, as well as prudent management of the nation’s finances. His attempt to ban new oil and gas leases on public lands and offshore waters are equally ill-considered.
TC Energy, the Canadian builders of the now-terminated Keystone XL, announced last week it had informed the U.S. Department of State of its intent to file a claim for “damages that it has suffered as a result of the U.S. Government’s breach of its [North American Free Trade Agreement] obligations.” The size of the claim: $15 billion. --->READ MORE HERE
Chris Machian/Omaha World-Herald via AP
Company behind Keystone XL pipeline seeks $15B in damages from the Biden administration:
The Canadian company behind the now-defunct Keystone XL pipeline is pursuing $15 billion in damages from the U.S. government for President Biden’s decision to pull the plug on the massive infrastructure project.
TC Energy announced Friday that it has filed a Notice of Intent to make a legacy claim under the North American Free Trade Agreement (NAFTA) as part of the United States-Mexico-Canada Agreement for damages “resulting from the revocation of the Keystone XL Project’s Presidential Permit.”
“TC Energy will be seeking to recover more than US$15 billion in damages that it has suffered as a result of the U.S. Government’s breach of its NAFTA obligations,” the Calgary-based company said in a statement. “The Notice of Intent was filed with the U.S. Department of State, Office of the Legal Adviser.”
Last month, TC Energy ended its 13-year-old battle to build the $9 billion addition running 830,000 barrels daily of crude oil from Alberta to the U.S. Gulf Coast after Mr. Biden rescinded the 2017 cross-border permit as part of his climate agenda on Jan. 20, his first day in office. --->READ MORE HERE

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