Explained: What is happening with the $9 bn Keystone XL oil pipeline?
WINNIPEG, Manitoba (Reuters) – TC Energy Corp says it is continuing to advance its Keystone XL (KXL) oil pipeline, the $9 billion project that would move oil from the province of Alberta to Nebraska.
Most recently, a Canadian indigenous group said it would invest C$1 billion ($764.35 million) in the project, which has been in the works for 12 years.
That surprised some, as KXL has been slowed by legal issues in the United States, and faces a potential fatal blow next year when President-elect Joseph Biden takes office, if he follows through on a vow to scrap KXL’s presidential permit.
