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The Company Behind The Now-Defunct Keystone XL Pipeline Is Suing The Government For $15 Billion

by Tyler Durden Wednesday, Jul 07, 2021 - 06:25 PM While White House press secretary Jen Psaki hilariously tells the media that Joe Biden's administration is "constantly monitoring" and "watching" the price of oil (as if they can and will do  anything about it), the company behind the abandoned Keystone XL pipeline is suing the U.S. government for more than $15 billion in damages.  In a press release out last Friday, TC Energy announced it had "filed a Notice of Intent to initiate a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit."

Taxpayers could be on the hook for more than $15 billion after Biden canceled Keystone XL pipeline permit

Taxpayers may be on the hook to compensate the Canadian energy company behind the Keystone XL pipeline project. Just as he promised, President Joe Biden revoked the permit for the Keystone XL pipeline on his first day in office. The move appeased climate change hawks, but resulted in thousands of hardworking construction workers losing their jobs. TC Energy, the Canadian-based company responsible for the pipeline, is seeking to recover more than $15 billion in damages caused by Biden’s permit cancellation. In a news release last week, the company said it had “filed a Notice of Intent to initiate a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit.”

$18 Billion Dollars | What Did You Say?

Taxpayers may be on the hook to compensate the Canadian energy company behind the Keystone XL pipeline project. Just as he promised, President Joe Biden revoked the permit for the Keystone XL pipeline on his first day in office. The move appeased climate change hawks, but resulted in thousands of hardworking construction workers losing their jobs. TC Energy, the Canadian-based company responsible for the pipeline, is seeking to recover more than $15 billion in damages caused by Biden’s permit cancellation. In a news release last week, the company said it had “filed a Notice of Intent to initiate a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit.”

Should the US government be on the hook for $15 billion? - Oil (General)

Taxpayers Could Be on the Hook for Billions in Damages to Canadian Firm Over Biden's Cancellation of Keystone

Keystone XL Pipeline Developer Wants $15 Billion in Damages From the U.S. – Investment Watch

Sharing is Caring! Energy company TC Energy has said it’s seeking $15 billion in damages from the United States government over President Joe Biden’s decision to cancel the Keystone XL pipeline project. In a statement on July 2, the Canada-based company said it had filed a notice of intent with the State Department to begin a legacy North American Free Trade Agreement (NAFTA) claim under the U.S.–Mexico–Canada Agreement. The company said it aims to “recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit,” adding that it suffered a loss of more than $15 billion “as a result of the U.S. Government’s breach of its NAFTA obligations.”

Keystone pipeline developers would like their money back

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