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ENBA - Biden Set To Cancel Keystone XL Enbridge Benefits
Enbridge Inc 6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due 2078
Biden is set to cancel the Keystone XL Presidential Permit, killing the entire project.
TC Energy and the Canadian government tried to appeal, promising billions in renewable development and American jobs. Odds still appear low.
Meanwhile, Enbridge is waiting from a corner, anxiously awaiting results. Its Mainline system is perhaps the largest beneficiary of Keystone XL cancellation.
Because of this, it might not be a surprise to see management back off its request to shift to longer-term contracts on Mainline, instead sticking with spot shipments.