TC Energy, the Canadian pipeline operator that was building the Keystone XL project, has filed a notice of intent to initiate a claim against the Biden administration for the suspension of the project, seeking $15 billion in damages. According to the notice, the U.S. administration violated the North American Free Trade Agreement with its decision to kill the $9-billin project that would have carried 830,000 bpd of Canadian crude to the United States. The company had to official drop Keystone XL after President Biden revoked a crucial permit. Proponents of the Keystone XL project have argued that scrapping the pipeline would not diminish the demand for the heavy crude oil that the pipeline would have carried to U.S. refineries. Instead, it would merely raise the United States’ dependence on crude oil from OPEC countries. An argument has been made that it would also kill jobs on both sides of […]