The Keystone XL crude pipeline could be built by the first quarter of next year if the Biden administration were to reverse its decision to cancel the project.
TC Energy Corp.’s Keystone XL crude pipeline could be built by the first quarter of next year if the Biden administration were to reverse its decision to cancel the project.
“The Keystone XL Pipeline Project was terminated in June 2021,” TC Energy said in an email. The existing Keystone pipeline system, which was built before the XL expansion was proposed, “will continue to provide unique, stable and safe source of energy to meet increasing U.S. energy demands.” Alberta will produce and export record volumes of oil this year and the province can boost shipments abroad by about 10% by using existing pipeline and crude-by-rail facilities more efficiently, Kenney said. Enbridge Inc.’s new Line 3 pipeline and a so-called diluent recovery unit that allows heavier crude to be railed down to U.S. refineries will also help boost exports, he said.Here's what a US ban on Russian oil could mean for you Here's what's happening What will happen with a U.
The U.S. will be acting alone, but in close consultation with European allies, who are more dependent on Russian energy supplies. European nations have said they plan to reduce their reliance on Russia for their energy needs, but filling the void without crippling their economies will likely take some time. Natural gas from Russia accounts for one-third of Europe's consumption of the fossil fuel. The U.S. does not import Russian natural gas.