Joe Biden

Courtesy Wikipedia

Alberta Premier Jason Kenney says billions of dollars in provincial loan guarantees to TC Energy to complete the Keystone XL pipeline aren’t at risk at the moment.

Kenney was commenting Tuesday, after reports that if he defeats U.S. President Donald Trump in November, presumptive Democratic candidate Joe Biden would cancel the Keystone XL pipeline.

Kenney announced in April his government was providing $1.5 billion in equity investment and a $6-billion loan guarantee to TC Energy to get the Keystone XL project completed but so far no details have been publicly released. 

After the project is completed, Kenney said the government would sell its shares back to TC Energy but he did not say at what price.

Kenney said while the $1.5-billion has been used to put thousands of people back to work, the $6-billion part of the deal remains untouched.

The premier noted the cross border section of the pipeline has been completed and without the government’s $1.5 billion, work “wouldn’t have been able to start this year.”

He said the remainder of the money would be for the 2021 construction season which TC Energy won’t make a decision on until next January.

Kenney noted the pipeline is part of “sensitive” Canada-U.S. relations and he would “hate to see thousands of miles of pipe pulled out of the ground” if Biden revokes the permit.

Kenney said he was “disappointed” in Biden’s stand and said Alberta officials hope to work with his campaign on the issue.

“It is supported by Americans and all the governors along the pipeline route,” said Kenney.

“KXL would guarantee North America energy independence.”

Calgary Mayor Naheed Nenshi called the Biden news “terrible”.

He noted TC Energy has had many stop-and-gos in the process and “it would be ridiculous to revoke the permit at this time.

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“There has been an enormous amount of work gone into the project… and it fits into Canada’s climate goals,” said Nenshi.

If it is stopped “I would feel very disappointed…it feels very late in the game now,” Nenshi said.

 In 2015, Biden was then vice-president to Barack Obama who cancelled the permit.

“It’s still the right decision now. In fact, it’s even more important today,” Stef Feldman told the CBC Monday..

“Biden strongly opposed the Keystone pipeline in the last administration, stood alongside President Obama and Secretary [of State John] Kerry to reject it in 2015, and will proudly stand in the Roosevelt Room again as president and stop it for good by rescinding the Keystone XL pipeline permit.”

When he was elected, Trump overruled the Obama decision and approved the oft-delayed pipeline for construction.

Environmental groups in the States have fought tooth-and-nail in an effort to stop the pipeline.

The Keystone pipeline, owned by TC Energy, runs from Alberta to refineries in Illinois and Texas.

The new pipeline would run from Hardisty, Alberta to Steele City, Nebraska.

Dave Naylor is the News Editor of the Western Standard

News Editor & Calgary Bureau Chief

Dave Naylor is News Editor & Calgary Bureau Chief of the Western Standard based in the Calgary Headquarters. He served as City Editor of the Calgary Sun & covered Alberta news for nearly 40 years.

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