Energy company pulls plug on Keystone XL Pipeline

A 12-year attempt to build a massive oil pipeline from the Canadian oil sands to the Gulf of Mexico is dead after the company behind Keystone XL decided to pull the plug on the contentious project. (June 10)

Video Transcript

BEN COWAN: TC Energy which is the company that was behind the Keystone XL Pipeline made the decision to formally cancel the project. Very controversial and very political issue. The Obama administration had not issued the permit. The Trump administration did, and the Biden administration, when it canceled the permit, that really was a death knell for the project. So there's no question that climate policy was as a significant driver in that decision.

MATTHEW CAMPBELL: Yeah. I think there is certainly a sense of relief and happiness about the decision. I think the tribes feel a sense of vindication that their rights have been honored and heard, and that their land, their resources, and their people will be protected.

FRANK MACCHIAROLA: It makes no sense, really, for the economy, for jobs, for the environment. It's really a bad decision by the administration, we're very disappointed that they've decided to head in this direction. So any time you restrict energy projects, you run the risk of not just harming our economy and dampening job growth, but also potentially increasing the price of energy that consumers pay.