Politics United Conservative Party. June-July 2010: Opposition to Keystone XL begins mounting in the United States. Well, don’t count on that unused pipe fetching enough to make a meaningful dent on the $1.5-billion loss Mr. Kenney incurred when he made his bad bet that former president Donald Trump would win the U.S. presidential election last November and allow the project to go ahead. Start a war? Construction has stopped and started over and over again, prompting some to nickname it the “zombie pipeline.” Most of the Keystone pipeline network, of which it is only one … But Keystone XL wouldn’t be your average pipeline, and tar sand oil isn’t your average crude. Reuters spoke via email with James Stevenson, a spokesperson for the Canada Energy Regulator, which oversees the Canadian portion of the Keystone XL Pipeline (here). The pipeline project will invest US$8.0 billion into the North American economy, and meet critical needs for transportation fuel and useful manufactured products. Posted on January 25, 2021, 12:54 am. That would explain why TC Energy threw in the towel so quickly, even before President Biden had actually signed the order. Plus, most of the Keystone pipeline system is already operational, bringing a half million barrels of Canadian crude into the U.S. daily. Legislators write … Wait until it’s discovered that a good portion of that loan guarantee was used by TC to purchase their own stock. Examples of posts making this claim can be found here , here and here . Something to think about when the NDP’s request for details of the TC arrangement is heavily, heavily redacted. Good coverage of this fiasco so far! All I need is a few $billions of investment and loan guarantees. If not, perhaps he can create a distraction himself, anything to stop those screaming headlines about a $1,5 billion loss. Stevenson confirmed that as of late 2020, about 152 kilometers, or 93 miles, of pipeline had been laid near the U.S.-Canada border. If Mr. Kenney can keep this vague long enough perhaps something else will arise to distract everyone. Albert Politics Canadian Politics Jason Kenney Joe Biden Justin Trudeau Keystone XL pipeline TC Energy Corp. U.S. The oil will keep coming, but if the pipeline is not built, it will arrive on much less carbon-efficient tankers, releasing more greenhouse gases. For example, this was found by TC Energy engineers to have happened to sections of pipe exposed to sunlight for up to nine years near Little Rock, Arkansas. Get all the 41 rural ridings (easy peasy, gullible folks) + 3 Calgary ridings = 44 seats = win = continued slaughter of Alberta. The pipeline project will invest US$8.0 billion into the North American economy, and meet critical needs for transportation fuel and useful manufactured products. A planned 1,179-mile (1,897km) pipeline running from the oil sands of Alberta, Canada, to Steele City, Nebraska, where it would join an existing pipe. Anyone here who can do an in-depth look at the 12-month data for insider trading on TC stock? Once again, condolences to the reasonable adults in Alberta, who I imagine must be feeling discouraged, isolated and powerless. The UCP are costing Albertans big money with their foolish risks. The link also provides a partial answer the the question ABS posed on your last article with regards to insider trading at TC; in the past 6 months insiders sold roughly 37 thousand shares and bought 32 thousand, so I think that is a non-issue. Well, it turns out that even with it that pipeline will never be built. This pipeline was to carry crude from Canada’s oil sands to the US Midwest. It’s very hard to believe that TC Energy hasn’t been planning for months for this development to take place. In my opinion Kenny has simply been playing a game. Therefore, about 8% of the planned 1,210-mile XL extension had been built by the time President Biden revoked the permit. TC Energy also has a new CEO as of the start of this year. I suspect they didn’t buy into the false hope narrative as much as our Premier did. The UCP aren’t fit to govern Alberta. After all, that’s why its executives are paid the big bucks. And, they just don’t care. Indeed, some of the pipe was purchased a decade ago, long before Mr. Obama cancelled the project the first time, and has sat aboveground unused and deteriorating ever since. According to the State Department, the Keystone XL will create approximately 2,500 to 4,650 temporary jobs during construction. C’mon, Alberturds, selenium is just salt! And royalties on ongoing open-pit col mine projects? At any rate, it’s hard to believe much of the pipe will be good for anything but scrap after sitting outdoors exposed to the elements for more than five years since former U.S. president Barack Obama first cancelled the Keystone XL project in 2015. Joe Biden doesn’t like the Keystone XL pipeline – that much is clear. Canada didn’t start Keystone XL dispute — the president did, Kenney says in rebuke of Biden. Is being pro-environment, (aka clean water and air) Alberta-bashing? Now the leftover pipe is being sold on Kijiji for $7B OBO, in a spoof that is allowing Albertans to laugh-cry at the stupidity of it all. Spoken like a dangerous, subversive, Alberta-bashing environmental radical. Finishing the pipe a couple of years before it is ready to be used may be supportable, but a project schedule should be able to orchestrate completion dates closer than that.”. was found by TC Energy engineers to have happened, Mr. Kenney almost certainly didn’t have it right, he said last year when he announced the gamble, NDP to ask UCP cabinet to release risk analysis and full documentation of Premier Jason Kenney’s $7.5-billion Keystone XL deal, Digging into the ‘Anti-Alberta Energy Campaigns’ Inquiry’s probe of the plot to replace capitalism with a dystopic ecotopia. Well Neil, you bring up an interesting question: Is pipeline, and oil & gas-bashing the same as Alberta-bashing? The Keystone XL Pipeline, a planned extension to this larger system that would run 1,210 miles from Hardisty, Alberta to Steele City, Nebraska, is considered “the fourth phase of the Keystone Pipeline System” (www.keystonexl.com/about/). Alberta is unlikely to recoup much of its $1.5-billion loss on the Keystone XL Pipeline by selling off unused pipe now that the Biden Administration has pulled the plug on the megaproject. JSS, Sadly, I must agree with your analysis of voting patterns in Alberta. 340M. Biden's permit decision impacts the project's proposed final phase, called Keystone XL. And it explains why many of the members of the company’s Keystone XL project team were reassigned to other projects around the time of the Nov. 3 presidential election, and why the company is looking at more investments in renewable energy, such as those it’s made in the past in solar and wind power. The proposed expansion of the northern leg, which would run from Alberta to Steel City, Nebraska, would carry an estimated 830,000 barrels of crude oil a day. So it’s reasonable to think that if Mr. Kenney had gotten his wish and Mr. Trump had been re-elected, or if the former president’s attempted coup had somehow succeeded, the project would have cost considerably more and taken a lot longer to complete than estimated because new pipe would have had to have been manufactured, purchased and shipped to worksites. U.S. President Joe Biden revoked permits for the oil pipeline on his first day in office, killing a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump. Now currently the economies are inter woven because of NAFTA 2 and 1 but that could be worked around quite quickly. It’s way overdue for the UCP to be gone. A map of the Keystone XL’s route alongside the existing Keystone Pipeline System, operating since 2010, can be seen here . Well at least it seems TC was more prudent with its money than our Premier at the pipeline casino. A 6% PST would bring in a lot more, about $11 billion/year. From the get go, the problem was the water in the U.S.A. if the pipeline burst, and there were enough e.g.s where their pipelines burst in other areas. Though the Keystone Pipeline XL had secured full funding through 2022, only 8% of it had been built by the time President Biden revoked the project’s permit in the United States. Joe Biden canceled the Keystone XL oil pipeline hours after becoming president, killing once again a cross-border project that had won a four-year … In the weeks following U.S. President Joe Biden’s decision to scrap the Keystone XL oil pipeline, posts on social media have claimed that the project “was in Phase 4 & just about completed” and that it had been “paid for” by the time Biden “pulled the plug.” While it is true that the project had secured funding, which was largely expected to be paid out in 2021 and 2022, the claim is partly false, as less than 10% of the pipeline had been built by the time Biden formally revoked the permit. David, you are definitely correct about the KXL cancellation not being a surprise to TC executives – it wasn’t even a surprise to the investment community at large. Additional data, also from TransCanada, states that there will only … The southern leg of the Keystone XL ties into the existing Keystone pipeline that already runs to Canada, bringing up to 700,000 barrels of oil a day to refineries in Texas. After a wait of more than ten years, work on TC Energy’s TRP Keystone XL project – a massive pipeline running from Hardisty, Alberta to Steele City, Nebraska – has finally started. It is essential that pipeline companies build pipelines that are as leak-proof as they claim they are during their community presentations, if they are going to rebuild the trust they once had. Well to be fair to Mr. Kenney there are probably some assets to be sold – $10 for the coffee machine in the site office? BILLINGS, Mont. At the time of the press release, the Government of Alberta had invested $1.1 billion in the project, largely covering the cost of construction through the end of 2020, according to TC Energy. Environmental activists and indigenous communities hailed the cancellation, and traders and analysts said U.S.-Canada pipelines will have more than enough capacity to handle increasing volumes of crude out of Canada, the primary foreign supplier of oil to the United States (here). What if someone is critical of Kenney pissing away billions of our tax dollars on stupid gambles, is that Alberta-bashing? The Keystone XL pipeline had to be stopped, because a toxic bitumen spill down into the Ogallala Aquifer would poison the drinking water for millions and would destroy the agriculture of the Great Plains states. How reassuring. how much keystone pipeline is already built. This data comes directly from TransCanada itself. Our Standards: The Thomson Reuters Trust Principles. Who doesn’t like salt? I read the link you posted with regards to TC engineers and found it most distressing. 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