WorldOil Keystone XL protestors want Biden to revoke more pipeline permits Environmentalists emboldened by this week’s defeat of Keystone XL are pressuring President Joe Biden to revoke permits for other oil and gas pipelines, warning their votes depend on the administration blocking fossil fuel infrastructure. TC Energy officially terminates Keystone XL pipeline after Biden revokes permit TC Energy Corporation confirmed that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the $9 billion Keystone XL Pipeline Project. Canada’s major oil sands producers unite to achieve net zero 2050 carbon emission goals Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced the Oil Sands Pathways to Net Zero initiative. “The initiative is an industry driven, made-in-Alberta solution which will strengthen our position as global ESG leaders,” said Sonya Savage, Alberta’s Minister of Energy. Enbridge seeks Canadian tax credits to fund hydrogen and CO2 capture push North America’s biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity. Exxon takes Canadian oil sands off its books in historic reserves revision In practical terms, the oil sands revision clipped Exxon’s future growth prospects until oil prices rise, costs slide or technological advances make it profitable to drill those fields. Keystone XL’s demise shifts crude oil shipments to railways Without Keystone XL, rail will become a more important way for Canadian oil to reach U.S. Gulf Coast refineries, which need the heavy crude to replace declining supplies from Mexico and Venezuela. And more rail traffic means greater derailment risk. Biden to mend fences with Trudeau over Keystone XL, other U.S.-Canada trade issues After four years of bruising trade battles with Donald Trump, the Biden administration already has canceled a permit for TC Energy Corp.’s Keystone XL oil pipeline and threatened new “Buy American” provisions for government procurement contracts. Shell sells its Alberta shale assets to Calgary-based Crescent Point Calgary-based Crescent Point, an oil driller with a focus on Saskatchewan, will acquire Shell’s Kaybob Duvernay assets for $550 million in cash and 50 million Crescent Point common shares. Canada’s Trudeau rejects a NAFTA challenge to Keystone XL shutdown Canadian Trade Minister Mary Ng said she is focusing her efforts with the new Biden administration on mutual U.S.-Canada interests despite early policy hiccups that risk further fracturing ties between the two nations, whose commercial relationship is worth $725 billion a year. TC Energy cuts 1,000 jobs after Keystone XL’s cancellation Alberta, home to the world’s third largest oil reserves, viewed the line as essential for delivering its heavy crude to U.S. refineries at a time when alternate supplies from Latin America were dwindling.