Energy & Science
Keystone XL Oil Pipeline Gets Go-Ahead After Alberta Puts Up $1.1 Billion
- TC Energy commits to moving ahead with long-delayed project
- Alberta investing $1.1 billion, backing $4.2 billion loan
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North America’s most infamous oil pipeline project just got a surprise $5.3 billion financial aid package from Alberta as the Canadian province fights to rescue its battered oil-sands industry.
Keystone XL, which for years has faced court challenges and environmental opposition in the U.S., will get a $1.1 billion investment and a $4.2 billion loan guarantee from Alberta to help TC Energy Corp. build the line to the U.S. Gulf of Mexico. The Calgary-based pipeline giant said it will invest the remaining $2.7 billion.