While Canadian officials remain “hopeful” that KXL will ultimately get approved, they’re not banking on it. While KXL languishes, pipeline companies are scrambling to get approval for a handful of other projects that would move vast amounts of Alberta’s heavy oil east and west, but not south.
Canadian regulators are currently considering four major pipeline projects: Two of them would move the crude to the west coast of Canada, where it would have easy access to Asian markets; the other two propose piping oil all the way east across southern Canada to refiners in Ontario and Quebec, which are stuck taking more expensive imported oil.
So is Keystone in danger of becoming irrelevant?
Timely, incisive articles delivered directly to your inbox.