The company leaves the controversial Keystone XL pipeline project to Economic News

Critics accepted the announcement as a “victory” just months after U.S. President Joe Biden withdrew the pipe permit.

The company behind a conflicting oil pipeline that would spread between Canada and the United States has officially canceled the project a few months after U.S. President Joe Biden passed away. he revoked the permit.

In one statement on Wednesday, TC Energy said it had completed the Keystone XL project “after exploring its options” and consulted with its partner, the Alberta government, in an oil-rich province in western Canada.

“The Company will continue to coordinate with regulators, stakeholders and indigenous groups to meet its environmental and regulatory commitments and ensure the safe completion and exit of the Project,” TC Energy said.

Alberta Premier Right Government of Jason Kenney He invested $ 1.5 billion ($ 1.1 billion) in the Keystone project last year, saying the pipeline was needed to help the provincial economy.

But the project was tackled years of fierce opposition environmental groups, landowners and Indigenous communities in Canada and the US, argued that it threatened their land and water and would worsen the climate crisis.

In January, just hours after its inauguration, Biden fulfilled his campaign promise and revoked the presidential permit granted by former President Donald Trump.

The 1,947-kilometer (1,210-mile) Keystone XL pipeline would extend from the Canadian province of Alberta to the U.S. state of Nebraska and send 830,000 barrels of oil a day between the two countries.

The U.S. Indigenous Environmental Network, a U.S.-based indigenous advocacy group, welcomed Wednesday’s announcement. “After more than 10 years – we have finally defeated an oil and gas giant! Keystone XL is Dead! We are dancing in our hearts to achieve this victory! ”The group tweeted.

“From Tar Sands to the Gulf – we worked hand in hand to protect the next seven generations of life, water and our communities. It’s not the end, it’s the beginning of more victories. We know that from the heart.”

After more than 10 years, we have finally defeated an oil and gas giant! Keystone XL is Dead!

We are dancing in our hearts to achieve this victory! #EzKXL #NoTarSands https://t.co/q5lkfKatft

– Indigenous Environmental Network (@IENearth) June 9, 2021

“We are hopeful that the Biden administration will continue to lead this country in the right direction by opposing fossil fuel projects that endanger our climate, our waters and wildlife. Good book to Keystone XL!” he said Jared Margolis of the U.S. Center for Biological Diversity, an environmental group.

Justin Trudeau was the Prime Minister of Canada supports piping, but Trudeau said in January that Biden had approved the decision to cancel the project.

Prime Minister Kenney Alberta said in a statement on Wednesday that his government was “still disappointed and disappointed with the state of the Keystone XL project, along with the suspension of the presidential permit to cross the pipeline border.”

“That said, Alberta will continue to play an important role in making the North American energy system reliable and affordable. We will work with U.S. partners to enable them to meet U.S. energy demands through the responsible development and transportation of our resources.”

The document says the Alberta government will cost the Canadian dollar $ 1.3 billion ($ 1.07 billion) for the entire project.