WATCH : The Alberta government is seeking $1.3 billion in compensation from the U.S. government in the wake of the cancellation of the Keystone XL pipeline’s permit. Tom Vernon reports. – Feb 9, 2022TC Energy Corp.’s ill-fated Keystone XL pipeline has suffered a major blow after a trade tribunal decision that tossed out its claim to US$15 billion in damages.
Keystone XL was a proposed crude oil transportation pipeline which would have carried oil from the oilsands of northern Alberta to the major U.S. crude storage hub at Cushing, Okla. and then on to Gulf Coast refineries. The tribunal said the legacy provisions tied to the old NAFTA only permit claims based on breaches that allegedly occurred while NAFTA was in force.Biden revoked Keystone XL’s permit a year after NAFTA was terminated and the new US-Mexico-Canada Agreement took its place.In an email Tuesday, TC Energy expressed its dismay over the tribunal’s decision.
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