CALGARY Alberta — The Canadian company TC Energy confirmed its defeat to environmentalists and announced it was giving up its Keystone XL pipeline project through the central United States. The end became preordained in January when President Biden revoked U.S. permits for parts of the 1,200-mile line. Since then, TC said, it had conducted a comprehensive review of its options. The company promised to work with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe exit from the project. In its last quarterly financial report, TC took a $1.81 billion impairment charge related to Keystone XL In all, TC Energy put almost $9 billion over 14 years into Keystone XL. The project was fought all the way by farmers and indigenous people who worried about spills and desecration of holy places and also by environmentalists who saw Canadian tarsand crude as a contributor to global warming.
Earlier: Keystone backers seen backing off
Shortcut to Gulf. The Keystone XL route through Montana, the Dakotas, Nebraska and Missouri was seen as less expensive for exporting Alberta crude oil than a pipeline over the Canadian Rockies to British Columbia ports.