Keystone XL pipeline’s project might see an end too soon- Biden plans to cancel the permit

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The Keystone oil pipeline’s developer planned to announce a series of overhauls—including a pledge to use only renewable energy—in a bid to win President-elect Joe Biden’s support for the controversial project.

As per the sources, Joe Biden is planning to cancel the permit for the $9bn  project as one of his first acts as president, perhaps as soon as he starts his  first day in office.

Aides to Mr. Biden have previously said he plans to revoke the permit, and Canada’s CBC News reported late Sunday that Mr. Biden plans to do so in one of his first actions after taking office this week. Mr. Biden’s team declined to discuss that report, but has said his thinking on the pipeline hasn’t changed.

Donald Trump had made building the pipeline a central promise of his presidential campaign. Biden, who will be taking up the office on Wednesday , was vice-president in the Obama administration when it rejected the project as contrary to its efforts to combat the climate crisis.

The words “rescind Keystone XL pipeline permit” appear on a list of executive actions likely to be scheduled for the first day of Biden’s presidency, according to to an report by the Canadian Broadcasting Corporation.

In a bid to save the project, Canada’s TC Energy Corp. is committing to spend $1.7 billion on solar, wind and battery power to operate the partially completed 2,000-mile pipeline system between Alberta, in western Canada, and Texas, company officials say. They also are pledging to hire a union workforce and eliminate all greenhouse-gas emissions from operations by 2030.

The company’s plans reflect new realities at a time when Democrats are taking commanding positions in Washington, and in an era of growing environmental and social concerns.

Barack Obama abandoned the project, saying Canada would reap most of the economic benefits, while the project would add to greenhouse gas emissions.