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Keystone XL Pipeline Owners Seek $15 Billion in Compensation From US for Cancelation of Project
Epoch Times ^
| 11/30/2021
| Bryan Jung
Posted on 11/30/2021 4:58:19 PM PST by SeekAndFind
The developers of the Keystone XL pipeline, TC Energy Inc., are seeking $15 billion against the U.S. government in compensation for money already spent developing the canceled pipeline.
President Joe Biden killed the pipeline earlier this year, citing climate change, following a 13-year dispute lasting three presidential administrations.
According to a Nov. 22 press release, TC Energy filed a claim in one of the largest international trade disputes made against the United States that is being watched by corporations and in government on both sides of the U.S.–Canada border.
The Keystone Pipeline, which was still under construction upon its termination, was to bring 900,000 barrels a day of crude oil from Alberta to refineries on the U.S. Gulf Coast.
Originally approved during the Bush administration in 2008, it was rejected by former President Barack Obama in 2015 on environmental grounds. The pipeline project was then revived by former President Donald Trump before its permit was rescinded by Biden on his first day in office.
TC Energy stated that “The U.S. decision to revoke the permit was unfair and inequitable,” saying that it has a public responsibility to its “shareholders to seek recovery of the losses incurred due to the permit revocation,” but that it has no intention of ever reviving the pipeline.
“We’re not doing this for symbolic or political purposes. This is a business decision,” said Richard Prior, the company’s senior vice-president for liquids pipelines, in an interview with Bloomberg. “We had all the permits and requirements in place to start construction on the line, and did so, and we worked with federal and state regulators in both countries for a very long period of time. This is just about recovering that destroyed value of investment.”
(Excerpt) Read more at theepochtimes.com ...
TOPICS: Business/Economy; Canada; Culture/Society; Front Page News; Government; News/Current Events
KEYWORDS: canada; cancelation; compensation; cop26; g20; glasgow; globalwarminghoax; greennewdeal; keystonexl; panicporn; pipeline; scotland; scotlandyet
TC Energy filed its formal arbitration claims under legacy provisions of the North American Free Trade Agreement, which allows foreign companies to challenge U.S. policy decisions and seek compensation for lost investments.
Unlike the old NAFTA rules that favor TC in this case, the new USMCA trade rules that replaced it limit the use of so-called investor-state dispute settlement systems.
To: SeekAndFind
This administration has enough stupid to pay it!
2
posted on
11/30/2021 4:59:27 PM PST
by
dynoman
(Objectivity is the essence of intelligence. - Marilyn vos Savant)
To: SeekAndFind
President Joe Biden killed the pipeline earlier this year, citing (political) climate change, .
3
posted on
11/30/2021 5:01:48 PM PST
by
TLI
(ITINERIS IMPENDEO VALHALLA)
To: SeekAndFind
I may be wrong, but it would seem to me that a good faith loss
based on the whim of a leader, should be actionable.
If they can document and justify that $15 billion dollar loss,
I hope they are compensated.
4
posted on
11/30/2021 5:02:16 PM PST
by
DoughtyOne
(Democrats, fixing things that haven't been broken, so they don't work, for over 197 years.)
To: SeekAndFind
They should have sued for $1 trillion — take all the money from the stupid “infrastructure” bill.
The Keystone infrastructure was being built and Biden cancelled it.
5
posted on
11/30/2021 5:07:40 PM PST
by
ProtectOurFreedom
(“…in any great disaster, there's a Harvard man in the middle of it.” ~ Thomas Sowell)
To: DoughtyOne
We, the taxpayers, now get to pay a $15bil. so we WON’T the get oil we paid to get.
In 6 months, when gas is $8/gal., the idiot in chief will then reverse the exec order, so costing us triple for the same pipeline.
Not their money. Yours. See how flippant lefties are when they are spending your money?
6
posted on
11/30/2021 5:07:41 PM PST
by
TonyinLA
( I don't have sufficient information to make an informed opinion said no lefty ever.)
To: dynoman
Thing is....it's my money and your money.
It ain't Pelosi's Biden's, any House Members money...IT's OUR MONEY!!
Until THEY get skin in the game.....
7
posted on
11/30/2021 5:13:52 PM PST
by
Osage Orange
(1961 VW Two Door Truck)
To: TonyinLA
Yeah, I see it. Firing squads aren’t in vogue any longer.
8
posted on
11/30/2021 5:14:04 PM PST
by
DoughtyOne
(Democrats, fixing things that haven't been broken, so they don't work, for over 197 years.)
To: SeekAndFind
If there were true justice in this land, they would get $15 billion from the Rat Party. And hopefully, they would go broke.
To: SeekAndFind
It’s only a four year term at best. Put the bulk of it on hold for a while. Continue to pave the way. Sue if need be. There are always workarounds, and civil disobendience is a fine example at that. Keep building the pipeline, drilling, and fracking. Biden is but a puff of wind, if that. Besides, why honor a FRAUD?
10
posted on
11/30/2021 5:41:20 PM PST
by
Fester Chugabrew
(No nation that sanctions the wholesale slaughter of its unborn citizens is fit to endure.)
To: DoughtyOne
If they can document and justify that $15 billion dollar loss, I hope they are compensated
Since the government has no money of its own we the taxpayers will get in the ear again.
11
posted on
11/30/2021 5:56:01 PM PST
by
Don Corleone
(leave the gun, take the canolis)
To: SeekAndFind
The Biden family should have to pay for it out of their personal hydes.
12
posted on
11/30/2021 6:00:08 PM PST
by
Dogbert41
("Blessed are those who hunger and thirst for righteousness, for they shall be filled" (Matthew 5:6).)
To: Dogbert41
Hunter should sell a few more of his stupid paintings to cover the damages.
13
posted on
11/30/2021 6:25:21 PM PST
by
Brandonmark
(Made America Great Again! 11.08.2016 - A DAY OF RENEWAL is a )
To: Brandonmark
14
posted on
11/30/2021 6:26:51 PM PST
by
Dogbert41
("Blessed are those who hunger and thirst for righteousness, for they shall be filled" (Matthew 5:6).)
To: SeekAndFind
No problem. Part of Joe’s master plan. 10% for the big guy is pretty nice pay off on this project.
15
posted on
11/30/2021 6:31:21 PM PST
by
shotgun
To: Don Corleone
That’s true.
While you and I don’t necessarily deserve that, there are
folks who voted for this idiot that do. Sadly, the vast
majority of them are themselves feeding at the trough.
16
posted on
11/30/2021 6:31:34 PM PST
by
DoughtyOne
(Democrats, fixing things that haven't been broken, so they don't work, for over 197 years.)
To: SeekAndFind
That's only 150 million of these little paper coupons...
That's a stack 10.18 miles high.
Or a cube of them about 84 feet on a side.
17
posted on
11/30/2021 8:10:47 PM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: DoughtyOne
Of COURSE you will vote for someone who promises to give you money not to work!
Vote buying used to be illegal!
18
posted on
11/30/2021 8:12:38 PM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: Elsie
19
posted on
11/30/2021 9:27:58 PM PST
by
DoughtyOne
(Democrats, fixing things that haven't been broken, so they don't work, for over 197 years.)
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