The Keystone XL Oil Pipeline Is Dead

The politics of oil has changed over the last decade, as have the economics; falling oil prices have made big, pricey fossil fuel projects less attractive. The oil industry and Republicans, however, have resorted to well worn lines, criticizing Biden’s revocation of TC Energy’s permit as a jobs killer, while making vague protestations about American “energy independence.” The oil was coming from Canada, which is not a part of the U.S., so it’s not really a question of independence.

TC Energy said it would cut more than 1,000 construction jobs when it suspended operations, but most of those jobs were only temporary anyway. The State DepartmentIn announcing the decision, TC Energy didn’t give much of an explanation for its decision, but the Wall Street Journalit did say “that going forward it would build its businesses in shipping and storing natural gas, liquid fuels and power to meet growing North American demand for cleaner fuels.

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