Keystone XL, which would have been under construction this year, was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska.
The company swung to a loss in the first quarter, hit by C$2.2 billion impairment charges related to the suspension of the Keystone XL project.Daniel Acker | Bloomberg | Getty Imagessaid on Wednesday it had terminated the $9 billion Keystone XL pipeline project, months after U.S. President Joe Biden revoked a key permit in a blow to Canada's oil sector.
But opposition from U.S. landowners, Native American tribes and environmentalists had delayed the project for the past 12 years, with Biden pledging to scrap the permit, which he did on his first day in office.
And people wonder why gas prices have spiked 30%. Its called the Biden effect
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