WorldOil 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. Canada idles oil sands as OPEC calls for greater unity among producers The supply cuts out of Northern Alberta, following a surprise OPEC+ decision to not increase output next month, could add more support to the recent rally in crude prices. OPEC+ had been debating whether to restore as much as 1.5 million barrels a day of output in April but decided to wait. 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. 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. Canada may seek U.S. payback via NAFTA after Biden cancels Keystone XL 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,” Alberta Premier Jason Kenney said on Tuesday. 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. Alberta’s premier urges retaliation for Biden’s job-killing Keystone XL move Jason Kenney said Justin Trudeau should demand the new U.S. administration sit down and discuss the project in the context of environmental, climate and security policy. If that fails, Canada should be willing to impose “meaningful” punitive measures against its biggest trading partner. Biden’s Keystone XL cancellation risks straining Canadian ties Alberta Premier Jason Kenney on Tuesday urged Canadian Prime Minister Justin Trudeau to take steps to save the pipeline permit, saying its revocation “would damage the Canada-U.S. bilateral relationship.”