As one of his first acts in office, President Biden revoked TC Energy Corp.’s (NYSE:TRP) license on the controversial Keystone XL pipeline project. The project ran into trouble soon after TC proposed the pipeline in 2008, with environmental groups mainly citing the threat of spills. Many were also keen on reducing the amount of oil extracted from Canada’s oil sands, widely regarded as one of the worst polluters among oil-producing regions anywhere in the world. The 1,700-mile pipeline is an expansion of an existing pipeline, called Keystone, meant to move 800,000 barrels of oil a day from eastern Alberta to Nebraska. But Biden’s administration is about to deal Canada’s crown jewel yet another sucker punch: Taxing Canada’s oil sands crude. On March 8th, Congressman Earl Blumenauer (D) Oregon and Ed Markey (D) Massachusetts, introduced a ‘ bill for spills’ that aims to slap an excise tax that could amount […]