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President Donald Trump’s recent call to restart the Keystone XL Pipeline has reignited discussions about the long-lasting impacts of the cancellation initiated by President Joe Biden. While the energy sector expressed optimism towards a more business-friendly administration, the consequences of Biden’s actions still linger.
Keystone was designed as a privately funded project aiming to construct 1,200 miles of pipeline. It would have facilitated the transportation of 850,000 barrels of crude oil per day from Alberta, Canada, to the U.S. Gulf Coast for refinement. This project required oversight due to its international implications, which meant the U.S. State Department held permitting jurisdiction.
In 2015, under the Obama administration, the project received initial approval. However, pressure from Secretary of State John Kerry led President Obama to deny the permits, citing climate change concerns. Trump’s administration reversed this decision, allowing construction to continue until Biden assumed office and revoked the project’s permit on his first day, resulting in significant job losses.
Setting a Troubling Precedent
The cancellation of the Keystone XL Project established an alarming precedent concerning the reliability of governmental agreements. The parent company of Keystone XL had negotiated with the U.S. government, which was perceived as undermined by Biden’s actions. This development raises questions about the dependability of future agreements when political currents can drastically alter outcomes.
Obama’s characterization of the project as
