Citing unnamed sources. This is a CAD negative, an impact on what would have been more exports. - even if its only a sentiment negative,
Canada's CBC news report:
- Biden is planning to cancel the Keystone XL pipeline permit via executive action on his first day in office
- purported briefing note from the Biden transition team was widely circulated over the weekend after being shared by the incoming president's team with U.S. stakeholders
- The words "Rescind Keystone XL pipeline permit" appear on a list of executive actions supposedly scheduled for Day 1 of Biden's presidency.
Canada insider tells me that there are murmuring amongst Canadian politicians of legal action if Biden does move on this.
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The proposed pipeline would connect terminals in Hardisty, Alberta, and Steele City, Nebraska for export of synthetic crude oil and diluted bitumen from the oil sands of Canada.
