Skip to comments.TC Energy to build Keystone XL Pipeline
Posted on 03/31/2020 12:33:42 PM PDT by yesthatjallen
Canadian pipeline operator TC Energy is moving forward with plans to build the controversial Keystone XL Pipeline, a project to move heavy crude oil from the tar sands region of Canada to Nebraska where it will then move on to refineries in Illinois and along the Gulf Coast.
After years of legal battles, TC Energy confirmed Tuesday morning that the company plans to invest $8 billion on the crude oil pipeline project. The controversial pipeline project faced opposition and legal challenges from Native American groups, environmentalists and landowners.
We appreciate the ongoing backing of landowners, customers, Indigenous groups and numerous partners in the U.S. and Canada who helped us secure project support and key regulatory approvals as this important energy infrastructure project is poised to put thousands of people to work, generate substantial economic benefits and strengthen the continents energy security, TC Energy CEO Russ Girling said.
Once complete, the 1,210-mile pipeline will move 830,000 barrels of heavy crude oil per day from Hardisty, Alberta to Steele City, Nebraska where it will connect to other TC Energy pipelines to to reach U.S. Gulf Coast refiners and other destinations.
TC Energy is making the $8 billion commitment at a time when oil prices are trading at near 20-year lows as a price war between Russia and Saudi Arabia has exacerbated a global supply glut and the coronavirus pandemic has cut global demand.
(Excerpt) Read more at chron.com ...
This is the only article without the word in the headline.
Thanks....and about freaking time!!!!
Despite marketing himself as an environmental justice advocate combating climate change, billionaire Democrat Tom Steyer oversaw the funding of coal plants in Australia, China, and Indonesia during his tenure as CEO of hedge fund Farallon Capital Management.
-2- Steyer supported Obamas termination of the Keystone XL Pipeline development via presidential veto in 2015 of legislation approving the project while being invested in a competing Canadian pipeline company, Kinder Morgan.
Ironically, heavy Canadian crude will be selling for near $0 in the short-term, as oil demand falls of a cliff, Russia and Saudi Arabia push up production, and they run out of storage for this very specific grade of crude close to the wellhead.
TC energy probably would like to delay it, but to do so now, and give the enviro-commies a victory, means it will likely never get built.
I plan on filling my pool with oil soon.
I wonder if this project will ever be completed. Four years ago I worked on a portions of this projects US legs. The amount of political wrangling would pale anything else you’ve never heard.
They have built many of the in between portions, and they sit, waiting, unused. For a time that may never come to pass.
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