The folks building the Keystone XL pipeline have thrown in the towel.
The firm behind the Keystone XL pipeline officially scrapped the project on Wednesday, months after President Biden revoked a cross-border permit for the controversial pipeline and more than a decade after political wrangling over its fate began.
The pipeline, which would have stretched from Alberta’s boreal forests to the refineries along the U.S. Gulf Coast, became the center of a broader controversy over climate change, pipeline safety, eminent domain and jobs. Those same concerns have spawned similar battles to stop pipelines in states including Montana, Minnesota and Virginia, part of an effort to keep fossil fuels in the ground.
The Keystone XL project also took on special significance because of the sea change in public and business attitudes toward climate change. The process of extracting bitumen-like oil from the thick tar sands consumes enormous amounts of energy — a combination of strip mining and underground steam injection — and exacerbates the impact on the planet’s atmosphere.
TC Energy said in a statement that it decided along with the government of Alberta to end the multibillion-dollar pipeline.
Activists who have spent more than a decade hoping to bury the project for good reacted with joy at the news Wednesday.
The oil companies said it would create “thousands of jobs.” Yes, to build it, but once it was done, the jobs would go away. And since the time it was conceived and now, the oil market has changed; we actually export it now. And most importantly, the oil itself was destined to be sent somewhere else; the U.S. wouldn’t benefit from it.