Letter from Canada: Keystone XL’s demise a fiasco and opportunity
The Canadian oilsands industry should now be clear where it stands and plan accordingly
Incoming US president Joe Biden pulling the presidential permit for Canadian midstreamer TC Energy’s controversial Keystone XL (KXL) project had been widely anticipated. Alberta Premier Jason Kenney was perhaps the unhappy exception, and the Canadian upstream sector should avoid repeating or compounding his mistakes. Upon learning Biden would likely announce a decision to scrap KXL as early as his inauguration day, Kenney came out guns blazing. He demanded the US “show respect for Canada”, as well as threatening a lawsuit in conjunction with TC Energy. When Biden did then formally revoke the presidential permit for KXL, Kenney referred to it as a “gut punch” to Canada-US trade relations. An
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
