- 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.
For further details see:
Biden Set To Cancel Keystone XL, Enbridge Benefits