Trump revealed on his Truth Social platform that the shelved pipeline project is still on his mind
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“Lower fuel costs for American families is a big win.”
Trump added that TC Energy, or another pipeline company, should come back to the U.S. to finish building Keystone XL, promising an expedited approval process.
“We want the Keystone XL Pipeline built!” said Trump.
One hiccup is that TC Energy is no longer in the business of building oil pipelines.
The Calgary-based energy company announced a major restructuring in 2023, two years after the Biden administration pulled Keystone XL’s permit, spinning its crude oil interests into a new venture called South Bow.
The spinoff was completed in October 2024, theoretically giving South Bow first dibs on a reboot of the project.
South Bow doesn’t look to be jumping at this opportunity.
“We’ve moved on from the Keystone XL project. We continue to engage with customers to develop options to increase Canadian oil supplies to meet growing demand,” wrote South Bow spokesperson Katie Stavinoha in an email to the National Post.
Heather Exner-Pirot, an energy policy analyst at the Macdonald-Laurier Institute, says there isn’t a strong case for throwing more taxpayer dollars at Keystone XL.
“I wouldn’t put a dollar towards de-risking it, providing equity for it, or designating it as the national interest,” said Exner-Pirot.
“My eggs are in the West Coast basket.”
National Post
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