President-elect Donald Trump plans to restore the Keystone XL oil pipeline on the first day of his new administration, according to people familiar with the matter Politico. [emphasis, links added]
President Joe Biden revoked Trump's 2017 approval of the pipeline on his first day in office in January 2021, citing concerns that burning oil sands crude would exacerbate “climate change.”
Critics blame Biden's “energy war” for causing soaring prices for energy and daily commodities.
The 1,200-mile Canada-Nebraska project can transport 830,000 barrels (35 million gallons) of crude oil per day. After Biden canceled the permit in 2021, TC Energy, the company behind the pipeline, announced it would not proceed with construction.
TC Energy CEO François Poirier celebrates Trump’s re-election, saying The former president “understands” the importance of energy and “energy security.”
“[Trump] There is a strong focus on affordability. He understands energy and the role of energy security on the international stage,” Poirier said this week.
“The free flow of energy between the three North American countries is very important. More oil and gas supplies from Canada will help lower U.S. prices“
During a debate with Vice President Kamala Harris in September, Trump lashed out at Biden's decision to cancel the Keystone XL permit, which cost thousands of American jobs.
“Why would Biden go in and kill Keystone?” [XL] pipeline and approve Russia’s biggest ever deal — the Nord Stream 2 pipeline, the world’s largest pipeline to Germany and all of Europe? Trump said. “Because they're weak and ineffective.”
In 2022, a former Keystone pipeline worker said reviving the project would lower the price of “everything.”
“Let's get to work immediately. Not only will you see the price of fuel come down, but you will see the price of everything else come down as well,” one worker said.
Parts of the pipeline have been excavated since Biden canceled the permit, so replacing that material will require any company that wants to rebuild the pipeline to obtain a new permit for the project, Politico reported.
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