Keystone Cancellation To Shame China

The Keystone pipeline cancellation will force Canadians to find overseas markets for oil.

Keystone Pipeline Cancellation Raises Pressure on Canadian Producers

President Biden’s revocation of a permit for the Keystone XL pipeline is spurring Canada’s energy industry to seek new markets for its top export.

Mr. Biden revoked the Keystone XL permit on Wednesday, hours after taking office, effectively shutting down a 12-year, cross-border project that would have carried 830,000 barrels a day from Alberta to Nebraska and eventually to refiners on the Gulf Coast. His executive order, which fulfilled a campaign promise, cited concerns about climate change.

However the NYT thinks the cancellation will shame China into cutting emissions by reasserting American climate leadership.

“China has laid out its concrete goal but not the concrete steps to meet it,” said Byford Tsang, an analyst who focuses on China’s climate policy at E3G, a research organization based in London. “So, if Biden lays out a goal and takes concrete steps, it could put pressure on China.”