Immediately after taking office, Joe Biden canceled the Keystone XL Pipeline permits, putting the project on hold.
There were hopes that he would reconsider and greenlight the project again, but now it does not matter.
TC Energy, the Canadian company backing the project, has officially terminated the project, with tens of thousands of jobs going away in the process.
When Joe Biden canceled the leases for the Keystone XL pipeline, 1,000 workers immediately lost their jobs.
Another 11,000 construction jobs were canceled, and it was estimated that as many as 60,000 secondary jobs were lost… 72,000 jobs gone with the swipe of a pen.
Biden cited environmental issues for canceling the project, yet he turned around and gave his stamp of approval for the Nord Stream 2 pipeline project.
Additionally, Energy Secretary Jennifer Granholm and Transportation Secretary Pete Buttigieg stated that pipelines are the most effective and safest way to transport oil.
Keep in mind, TC Energy had also stated the project could be net-zero carbon in just a few years with the advances in technology that were being incorporated into the project’s construction.
That had some thinking that perhaps, with some pressure, Biden would fold and reissue the permits for the Keystone project, but he is not caving.
So, TC Energy decided to abandon the project outright this week.
In making the announcement, TC Energy stated, “Construction activities to advance the Project were suspended following the revocation of its Presidential Permit on January 20, 2021.
“The Company will continue to coordinate with regulators, stakeholders and Indigenous groups to meet its environmental and regulatory commitments and ensure a safe termination of and exit from the Project.”
Biden claims to have created more jobs in the first four months of his presidency than anyone in history, but all we have seen is jobs being canceled and people being paid to sit home on their sofa.
This is all going to catch up to Biden soon enough, and based on the latest CPI report, the reckoning is coming very soon.