TC Energy to File Claim

TC Energy, the company behind the Keystone XL pipeline project has announced they intend to file a claim for $15 billion after Joe Biden revoked a key permit that halted the project.

TC Energy Corporation announced today it has filed a Notice of Intent to initiate a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit.  

TC Energy will be seeking to recover more than US$15 billion in damages that it has suffered as a result of the U.S. Government’s breach of its NAFTA obligations.

The Notice of Intent was filed with the U.S. Department of State, Office of the Legal Adviser.

From the TC press release

The 1,200-mile-long pipeline would have carried some 800,000 barrels of oil a day, from the tar sands of Canada to refineries in Nebraska. The construction project would have directly created more than 10,000 U.S. “high-quality jobs and local contracting opportunities.” according to Keystone. A State Department study put the number even higher at 26,100 jobs with the inclusion of indirect jobs.

Biden is also facing a suit backed by a coalition of 21 states, led by Texas and Montana, that argues “Biden does not have the unilateral authority to change energy policy that the U.S. Congress has set,”. The suit is joined by attorneys general from Alabama, Arkansas, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Utah, and Wyoming.