Keystone Faces Biden Risk After Covid Made Project Less Crucial
- Joe Biden has pledged to rescind project permit given by Trump
- Project faces lower oil demand headwind in post pandemic world
Photographer: Daniel Acker/Bloomberg
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Barack Obama tried to stop the Keystone XL pipeline. Donald Trump tried to revive it. If Joe Biden is elected, he says he’ll block it again -- and the pandemic may help him kill the project for good.
Biden has pledged to rescind a key permit granted by Trump for the pipeline, a 1,210-mile (1,950-kilometer) project designed to take 830,000 barrels of crude a day from Alberta to Nebraska. Keystone XL has been on its death bed before, only to come back. But this time the politics are shifting at a moment when demand for oil is weak and other pipelines are moving toward completion more quickly.