I pay attention to the Wall Street Journal.
It gives me an intelligent perspective on “conservative” thought. In juxtaposition to Fox News, et al. The past year WSJ forecast what Biden would do as President very accurately. Now he is President. I am looking forward to implementation of the policies decried by the WSJ.
This week begins a new day in Washington on so many fronts. One of which is the controversial Keystone XL Pipeline. President Biden claims he is going to REVOKE the permit as one of his first actions as Chief Executive.
Excerpted from Wall Street Journal 1.21.2021
WASHINGTON—The Keystone oil pipeline’s developer plans to announce a series of overhauls—including a pledge to use only renewable energy—in a bid to win President-elect Joe Biden’s support for the controversial project.
Aides to Mr. Biden have previously said he plans to revoke the permit, and Canada’s CBC News reported late Sunday that Mr. Biden plans to do so in one of his first actions after taking office this week.
Mr. Biden’s team declined to discuss that report, but has said his position on the pipeline hasn’t changed.
In a bid to save the project, Canada’s TC Energy Corp. TRP 0.29% is committing to spend $1.7 billion on solar, wind and battery power to operate the partially completed 2,000-mile pipeline system between Alberta, in western Canada, and Texas, company officials say. They also are pledging to hire a union workforce and eliminate all greenhouse-gas emissions from operations by 2030.
Keystone XL is a 1,210-mile expansion to a larger pipeline network. It must connect to the power grid to run pump stations that help push oil through the line. Those stations sit about every 50 miles along the pipelines, driven by electric motors.
The company’s plans reflect new realities at a time when Democrats are taking commanding positions in Washington, and in an era of growing environmental and social concerns.
“In our view, this is the most sustainable and environmentally friendly pipeline project that is ever been built,” Richard Prior, president of TC Energy’s Keystone XL expansion project, said in an interview. “This is groundbreaking stuff for an energy infrastructure project of the size and scale of Keystone XL.”
A company spokesman said Keystone will announce the new measures this week.
Construction of the expansion, long delayed by legal and permitting challenges, started last year under a permit President Trump awarded to sidestep an order by a federal judge blocking construction in the U.S., pending a supplemental environmental review.
Keystone executives hope to keep the $8 billion project alive by making it a showcase for how fossil-fuel projects can still be environmentally friendly and generate good-paying union jobs.
In August, the company struck a deal with four labor unions to build the line itself. And it followed that up in mid-November with a deal for five indigenous tribes to take a roughly $785 million ownership stake. A new labor deal led by North America’s Building Trades Unions gives priority to union workers for the renewable power buildout, too.
Canadian government officials continue to press the case for Keystone with Mr. Biden’s team. They want to get more bottlenecked Canadian crude to the U.S. Gulf Coast, one of the world’s biggest centers for refining oil. Prime Minister Justin Trudeau mentioned the pipeline among his top priorities during his first call with Mr. Biden after the election.
Keystone’s initial proposal became a flashpoint for climate activists. It led many to fight pipelines as a way to combat growing oil production and instead push investment to alternative energy projects that wouldn’t contribute to climate change.
They especially object to the Keystone pipeline because the Canadian crude it carries comes from oil sands, which generate more pollution than other types of oil.
To address those concerns, Keystone is promising to fund new renewable energy infrastructure to generate 1.6 gigawatts of power. That amount would rival the country’s biggest corporate renewables purchases by companies such as Amazon.com Inc. and Alphabet Inc.’s Google that have become common in recent years, and further boost a burgeoning wind and solar market.