The situation in Russia and Ukraine, OPEC+ maintaining the original production increase plan, and the relevant agreements on Iran have not made progress... Various factors have made oil scarce and short, and oil prices have risen and risen. Even if many countries release oil reserves, they will have little effect on curbing oil prices.
Due to the large gap in domestic oil in the United States, the United States began to hold close talks with Venezuela, Saudi Arabia and Iran on oil imports, which made Canada anxious.
In the past week, in view of the United States' repeated search for Venezuela and other countries to negotiate oil projects, Canada's political and business circles have shouted in the air that the United States can restart the Keystone Oil Pipeline (KeystoneXL) project. Sonya Savage of Alberta, Canada's main oil producer, said Canada is the solution, not countries like Venezuela.
KeystoneXL can be said to be ill-fated. The Keystone Pipeline is an oil pipeline in the United States and Canada, owned by TC Energy and the Government of Alberta in Ningguo Province, and entered service in 2010 to deliver oil from Alberta to the United States.
KeystoneXL is Keystone's Phase IV project, which can connect the two terminal stations in the United States and Canada in the first phase with shorter routes and larger tubing, thereby reducing transportation costs.
But KeystoneXL has been met with protests from environmentalists, who believe the project will pollute groundwater and exacerbate greenhouse gas emissions. Pressure continued, and Obama vetoed the project in 2015. In 2017, Trump allowed the project to be revived, and although there is still opposition, the project is still slow to be built.
In 2020, Canada's Michels even spent $8 billion on the project. But in January 2021, Biden canceled the KeystoneXL project again. In June 2021, TC Energy announced the termination of the project. At that time, Biden's decision was opposed by many us state governments, but there was nothing they could do to change this decision.
Once completed, the project will provide the United States with 800,000 barrels of oil per day, which is a project that will greatly benefit the United States and Canada. Industry insiders believe that the cancellation of the project by the United States will not only make the United States more dependent on oil imports from oil-producing countries such as OPEC+, but also weaken the relationship between the United States and Canada.
There is oil on the doorstep, so why should the United States spend energy importing oil from the other side of the ocean?
Wen | Zhao Jinjie title | Zeng Yi | Li Zeju