The Briefing Room
General Category => Economy/Business => Topic started by: catfish1957 on February 05, 2021, 04:33:51 pm
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(https://bloximages.chicago2.vip.townnews.com/salamancapress.com/content/tncms/assets/v3/editorial/d/eb/deb6f5bd-6e55-5630-9691-9e84d18d93fe/600a12421369a.image.jpg?resize=400%2C267)
https://finance.yahoo.com/news/canada-oil-heartland-considers-seeking-184009402.html (https://finance.yahoo.com/news/canada-oil-heartland-considers-seeking-184009402.html)
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(Bloomberg) -- The oil-rich Canadian province that was hit hard by Joe Biden’s move to kill the Keystone XL pipeline is considering seeking compensation from the U.S. through an old free-trade rule that’s still in place.
Alberta, which spent C$1.5 billion ($1.2 billion) to help jump start construction of the project, may resort to a North American Free Trade Agreement provision allowing compensation claims for lost investments, Alberta Premier Jason Kenney said. While Nafta was replaced by the United States-Mexico-Canada Agreement during the Trump administration, the rule remains in place during a phase-out period.
To “retroactively remove regulatory approval on the basis of which an investment was made is, in my view, a slam dunk case of a claim for damages through Nafta under the investor protection provisions,†Kenney said on a Facebook live Tuesday. “We believe we have a very strong case for damages, and we’ll be continuing to work with TC Energy on that.â€
The pipeline cancellation dealt another blow to an oil-dependent province that was already reeling from two crude-market crashes since 2014. TC Energy Corp.’s Keystone XL would ship more than 800,000 barrels a day of crude from Alberta’s oil sands to U.S. refineries.
The project’s demise prompted TC Energy to let go of about 1,000 union workers on both sides of the border.
Biden’s Keystone XL Cutoff Shocks Town Where Population Doubled
After the U.S. president’s decision on his first day in office, Kenney said that Alberta would consider legal action and urged Canadian Prime Minister Justin Trudeau to impose trade sanctions if the Biden administration didn’t negotiate.
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More under-reported collateral damage incurred by Pedo Joe's wreckless energy and trade policies. If I was another country, my trust level with the U.S would be near zip right now. We are that bad.
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Alberta, which spent C$1.5 billion ($1.2 billion) to help jump start construction of the project, may resort to a North American Free Trade Agreement provision allowing compensation claims for lost investments, Alberta Premier Jason Kenney said. While Nafta was replaced by the United States-Mexico-Canada Agreement during the Trump administration, the rule remains in place during a phase-out period.
More power to them. The US is liable for any and all losses incurred. Canada has paid all this money to build the pipeline, only to be blocked by a tyrannical dictate of the Executive Branch in violation of our Republican system of government.
Eventually, Canada will reroute the flow to Vancouver and begin selling their oil on the global market for a much better price than they are currently receiving from the US.
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Eventually, Canada will reroute the flow to Vancouver and begin selling their oil on the global market for a much better price than they are currently receiving from the US.
Absolutley, and as I mentioned in an earlier article, the Chicoms on cue have already allocated infrastructure money in a Canadian Refinery to secure and process the oil. Not that Biden had anything to do with facilitating that. /s
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Eventually, Canada will reroute the flow to Vancouver and begin selling their oil on the global market for a much better price than they are currently receiving from the US.
@Hoodat
The Trans Mountain Pipeline expansion from Alberta to the British Columbia coast has been in construction already. Trans Mountain has completed 22% of the expansion project, called TMX, which is scheduled for service in December 2022. The original pipeline started operations in 1953.
https://www.reuters.com/article/us-canada-pipeline-transmountain/canadas-trans-mountain-pipeline-sees-fortunes-shine-after-kxls-demise-idUSKBN29T0BA (https://www.reuters.com/article/us-canada-pipeline-transmountain/canadas-trans-mountain-pipeline-sees-fortunes-shine-after-kxls-demise-idUSKBN29T0BA)
(https://s3-us-west-2.amazonaws.com/transmountain-craftcms/images/TMEP-SYSTEM-MAP-no-Spreads-with-WA-line_Dec_19_18.jpg)
(https://www.capp.ca/wp-content/uploads/2020/10/2020-CAPP-Overall-Refinery-Map-LARGE-scaled.jpg)
https://www.transmountain.com/ (https://www.transmountain.com/)
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If Alberta can get compensation from the US government, then Texas should be able to do so as well, as it suffers from the same idiotic, unconstitutional rullings.
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@Hoodat
The Trans Mountain Pipeline expansion from Alberta to the British Columbia coast has been in construction already. Trans Mountain has completed 22% of the expansion project, called TMX, which is scheduled for service in December 2022. The original pipeline started operations in 1953.
https://www.reuters.com/article/us-canada-pipeline-transmountain/canadas-trans-mountain-pipeline-sees-fortunes-shine-after-kxls-demise-idUSKBN29T0BA (https://www.reuters.com/article/us-canada-pipeline-transmountain/canadas-trans-mountain-pipeline-sees-fortunes-shine-after-kxls-demise-idUSKBN29T0BA)
(https://s3-us-west-2.amazonaws.com/transmountain-craftcms/images/TMEP-SYSTEM-MAP-no-Spreads-with-WA-line_Dec_19_18.jpg)
(https://www.capp.ca/wp-content/uploads/2020/10/2020-CAPP-Overall-Refinery-Map-LARGE-scaled.jpg)
https://www.transmountain.com/ (https://www.transmountain.com/)
TMX is suffering from the same First Nations/Native American resistance the Keystone and DAPL are. Much of that is ginned up somewhere by a profit motive, and someone is picking up that tab.
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Maybe Canada should stop trying to pick favorites in a US election?
They didn't like Trump.
Now they don't have him.
So perhaps they should enjoy their prize?
As for the legal consequences of the Usurpers questionable termination of the Keystone XL pipeline...
...why hasn't that cancellation been challenged in US federal court? Canada isn't the only country were people have spent money and signed contracts to build the thing. How are the contractual rights of the US parties involved so easily dismissed?
Where's the fight HERE?
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Maybe Canada should stop trying to pick favorites in a US election?
They didn't like Trump.
Now they don't have him.
So perhaps they should enjoy their prize?
As for the legal consequences of the Usurpers questionable termination of the Keystone XL pipeline...
...why hasn't that cancellation been challenged in US federal court? Canada isn't the only country were people have spent money and signed contracts to build the thing. How are the contractual rights of the US parties involved so easily dismissed?
Where's the fight HERE?
Much of this wrangle ends up in Federal Court, and comes up before the same judge--in Washington, D.C. Need I indicate the results of that?