CBJ – Incoming U.S. President Joe Biden is planning to cancel the Keystone XL pipeline expansion on his very first day in office.  Multiple sources are now confirming Biden remains firm on the decision. He and Prime Minister Justin Trudeau recently spoke on the phone about a number of issues. Apparently Trudeau brought up the pipeline project and Biden said he would discuss more at a later date.

If the project is cancelled, as is widely believed, it will be a crushing blow to Canada’s natural resources sector, and particularly Alberta where the pipeline runs into the U.S.

Federal Conservative leader Erin O’Toole has publicly asked Trudeau to reach out to the incoming U.S. administration again in an effort to change Biden’s mind. “Keystone XL is a project of national significance that supports countless workers on both sides of the border,” O’Toole said in an emailed statement.

There are those who believe Biden himself is not vehemently against the pipeline expansion, and may personally slightly lean towards its development, but a significant percentage of his base, including financial donors, are against the project.

@CanBizJournal