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Hard to believe Biden is not even sworn in yet and this news comes. Well, whether you are pro-pipeline or not, if this news is true it will affect many jobs on both sides of the 49th parallel including some serious spin-off economic benefits for many businesses and service. As much as I am for renewable and green energy including the building of the electric car plant in Ontario, I hope our leaders in Canada and USA can go to the bargaining table in this one. https://www.ctvnews.ca/world/america-votes/an-outright-no-biden-s-day-1-keystone-xl-kibosh-bodes-ill-for-canada-u-s-ties-1.5271625
Edited by admin, 2021-01-18 20:37:44. Reason: title
From the link below "Canada might already be over-piped" when you consider Enbridge expansion and Trans Mountain in the works to add quite a bit of capacity within these next couple years: https://www.bnnbloomberg.ca/video/~2120903
Analysts saying that the best outcome for TC Energy's stock now might just be for them to walk away, though with some of the billions already committed by various parties there's more to come on this one in the news.
Definitely won't be a big change overnight and there could be a real good run for Canadian energy in the nearer-term post-pandemic.. but long-term we really need to shift more and more focus to what comes next. Trends towards EV (Tesla stock craze & associated capital and more manufacturers getting serious about bringing vehicles to market) and renewables seem to have accelerated during the past handful of months. Heck even Saudis are talking about a car-free city in the works in a decade or so. Here's hoping that with some of the billions made over these next number of years that the major Canadian energy players pour more and more into transitioning to what's next because I have a feeling EVs will have a more meaningful chunk of the mainstream sooner than some might think!
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