Company officially nixes Keystone XL pipeline

The company behind the Keystone XL pipeline announced on Wednesday that it's officially scrapping the project after President Biden nixed a border-crossing permit for the project. 

A statement from TC Energy said that after "a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project."

"We value the strong relationships we’ve built through the development of this Project and the experience we’ve gained," company president and CEO  Fran├žois Poirier said in a statement. 

The company also said that it will work with regulators and others to safely terminate the project. 

The news was first reported by the Washington Examiner. 

On his first day in office, Biden decided to revoke the key permit for the project, garnering cheers from many environmental and indigenous groups and ire from conservatives.

In an executive order doing so, Biden argued that the proposed oil pipeline "disserves" the U.S. national interest and that "leaving the Keystone XL pipeline permit in place would not be consistent with my Administration's economic and climate imperatives."

Since then, a cohort of states with Republican attorneys general sued Biden over the decision. 

Wednesday's news reignited GOP criticism of Biden over his decision. 

“This is devastating news for our economy, jobs, environment and national security—and it's entirely President Biden’s fault. It’s beyond clear that President Biden is beholden to extreme environmentalists," Sen. Steve Daines (R-Mont.) said in a statement. 

Former President Trump had championed the vessel, which would have shipped  carbon-intensive tar sands oil from Canada to the U.S. across 1,200 miles. 

He issued a permit allowing it to cross the border during the first months of his presidency.  

The vessel's proponents say it would have brought jobs and revenue, while opponents argue that the country shouldn't import tar sands oil and tribes have said the Trump administration ignored their treaty rights when approving the pipeline.

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