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Kucharski on cancellation of Keystone XL
Energy sector expert and adjunct professor Jeff Kucharski has published an opinion article in the Globe and Mail examining the impact of the cancellation of the Keystone XL pipeline by the new Biden administration.
Here’s an excerpt:
With the cancellation of the Keystone XL pipeline by the new Biden administration, the strategic importance of the Trans Mountain pipeline project has significantly increased. The Trans Mountain expansion, or TMX, presents the best opportunity for Canada to capture world market prices for our crude oil in the Indo-Pacific while also achieving important benefits for Canada in terms of trade diversification, foreign policy and international energy security.
Antipathy to Keystone XL under the Obama as well as the new Biden administration should now make it abundantly clear that the United States is no longer the dependable market for Canadian energy it once was. Keystone XL was an easy scapegoat to satisfy the environmental lobby within the Democratic Party; the fact that Canada was not consulted in advance makes it even more frustrating.
Instead of bemoaning the cancellation of Keystone XL, however, Canada should see this as an opportunity to put more emphasis on direct access to offshore markets. Specifically, the TMX pipeline will allow Canada to take advantage of direct exports to key markets in the Indo-Pacific.
Read the full article in the Globe and Mail.