Keystone XL: Company seeks damages over pipeline’s cancellation

TC Energy invokes NAFTA process to seek ‘lost investment’ in contentious pipeline nixed by Joe Biden earlier this year. The company behind a multibillion-dollar oil pipeline nixed earlier this year by US President Joe Biden’s administration has filed a claim under the North American Free Trade Agreement to recover economic damages caused by the project’s cancellation. But Biden had promised to cancel the project should he win last year’s US elections, saying he had “been against Keystone from the beginning”. Right-wing Alberta Premier Jason Kenney, a top proponent of the pipeline whose government invested 1.5 billion Canadian dollars in the project last year, also had urged Biden to reconsider his position. Last month, the Trudeau government invoked a 1977 treaty with the US to trigger bilateral negotiations over Enbridge Inc’s Line 5 pipeline, which ships 540,000 barrels per day of crude and refined products from Superior, Wisconsin, to Sarnia, Ontario.