Today’s revocation of the Keystone XL (KXL) presidential permit is deeply disappointing.
If completed, KXL would be among the world’s safest, most progressive and most environmentally responsible pipelines. The proponent, TC Energy, has committed to investing more than $1.7 billion (U.S.) in communities along the route, creating 1.6 gigawatts of renewable electricity capacity and thousands of construction jobs in rural and Indigenous communities. As a result, the project would achieve net-zero GHG emissions when placed into service, and would be fully powered by renewable electricity no later than 2030. TC Energy also has offered equity partnerships to Indigenous communities along the route, allowing them to share the economic benefits.
Canadian oil will be an important source of North American energy for decades to come, and will play a critical role as Canada and the United States work together to transition to a low-carbon economy. The Business Council of Canada calls on the federal government to continue to stand up for KXL and for the many thousands of Canadian families whose livelihoods depend on it. Canadian oil is produced and transported by companies that take climate change seriously, are committed to achieving the world’s highest environmental standards, and are investing billions of dollars to develop and deploy clean energy solutions for Canada and the world.
June 8, 2021