U.S. President Joe Biden’s decision to cancel the Keystone XL permit is likely to be the project's death knell, after more than a decade of legal battles and shifting fortunes.
Soon after his inauguration, U.S. President Joe Biden signed executive actions that included formally revoking the permit needed to build the Keystone XL oil pipeline and rejoining the Paris Agreement on climate change.
Analysts wonder if the timing portends trouble for infrastructure projects by the oil and gas industry with the new administration.
President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project as one of his first acts in office, and perhaps as soon as his first day, according to a source familiar with his thinking.
US has threatened sanctions on companies involved in the project.
State Department report is expected to be issued later this week.
Revisions make it easier for projects to move forward but could be reversed by the incoming Biden administration.
Double E is one of several pipelines proposed to transport natural gas from the Permian Basin and is expected to enter service in 2021.