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Canada Faces Era of Pipeline Abundance After Keystone Move

  • Three new pipelines to add enough capacity for 20 years
  • President Trump signs order that revives Keystone XL project
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Trump Signs Memoranda on Keystone, Dakota Access

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President Donald Trump’s decision to revive TransCanada Corp.’s Keystone XL pipeline may herald a new era of pipeline abundance for Canadian oil producers after years of bottlenecks, while lowering the discount on the region’s crude.

The U.S. president signed documents to advance the project Tuesday, more than a year after his predecessor Barack Obama rejected it on grounds it would contribute to climate change. The decision follows the Canadian government’s approval in November of Kinder Morgan Inc.’s Trans Mountain line to the Pacific and Enbridge Inc.’s expansion of Line 3 to the U.S. Midwest.