U.S. President-Elect Trump has long been a proponent of the once thought dead Keystone XL Pipeline that was cancelled by outgoing President Barcak Obama after years of dithering and finally bowing to environmentalists, abandoning the $8-billion project.
The new president-elect is looking at a piece of the profit as an incentive to getting the pipeline built, and has a Republican Congress that has already put its stamp of approval on the new pipeline only to be vetoed by President Obama.
Once complete, the new Keystone XL pipeline is estimated to carry up to 830,000 barrels per day of diluted Alberta bitumen and U.S. oil to Nebraska.
In his inimitable style, Trump campaigned for the Keystone project saying the it would boost job creation and be the “safest pipeline ever built.”
He campaigned saying he would ask TransCanada to resubmit its proposal for the project: “I want it built, but I want a piece of the profits. That’s how we’re going to make our country rich again.”
The revived Keystone XL Pipeline could be one of the first pieces of legislation introduced by Republicans in the next Congress and would set the stage for another battle between environmentalists and the U.S. Government.
Even environmentally friendly Alberta Premier Rachel Notley is a strong proponent of getting the pipeline back on the books, and passed by the new U.S. government to help revive and grow the economy in her province.