Keystone XL Pipeline Developer, TC Energy Seeks $15 Billion in Damages From Biden Administration;
TRP is attempting to reclaim the financial losses, which resulted from the cancellation of the presidential permit for the Keystone XL pipeline project.
- The $8-billion pipeline was designed to carry crude oil from Alberta’s oil sands to U.S. Gulf Coast refineries. However, the project was opposed by environmental activists in both Canada and the United States as they claimed that the production and extraction of oil from oil sands will release a massive amount of greenhouse gases.
- Although the pipeline was expected to be a green pipeline, its operations would have generated 1.44 million metric tons of carbon dioxide per year. Notably, this is equivalent to nearly the annual emissions from 300,000 passenger cars. Therefore, the construction and operation of the pipeline involved risks associated with the water supply and the environment.