taggit Summary
CALGARY, Alberta (Reuters) - U.S. President on Wednesday will revoke the permit needed to build the Keystone XL oil pipeline after being sworn into office, aides said, dashing Ottawa's hopes of salvaging a project that the struggling Canadian crude sector has long supported. Keystone XL, owned by TC Energy Corp, is already under construction in Canada, and would carry 830,000 barrels per day of Alberta oil sands crude to Nebraska. Canadian producers, who have struggled for years from low prices partly related to sometimes-congested pipelines, have long supported Keystone XL (KXL). But a Energy Regulator report in November report said western Canadian crude exports are expected to remain below total pipeline capacity over the next 30 years if KXL and two other projects proceed, prompting environmental groups to question the need for all three.