Biden to cancel Keystone XL pipeline permit on first day in office: CBC By Reuters

© Reuters. A depot used to store pipes for Transcanada Corp’s planned Keystone XL oil pipeline is seen in Gascoyne

(Reuters) – U.S. President-elect Joe Biden is planning to cancel the Keystone XL pipeline permit via executive action on his first day in office, CBC News reported on Sunday, citing sources.

A briefing note from the Biden transition team was widely circulated over the weekend after being shared by the incoming president’s team with U.S. stakeholders, the Canadian broadcaster reported.

The words “Rescind Keystone XL pipeline permit” appeared on a list of executive actions likely scheduled for the first day of Biden’s presidency, according to the report https://

Biden’s transition team did not immediately respond to a request for comment on the report.

The Keystone pipeline is operated by TC Energy (NYSE:) Corp. The $9 billion project, which would move oil from the province of Alberta to Nebraska, had been slowed by legal issues in the United States.

It was seen to face a potential fatal blow when Biden takes office on Wednesday if he followed through on a vow to scrap the oil pipeline’s presidential permit.

Former Democratic President Barack Obama axed the project in 2015, saying Canada would reap most of the economic benefits, while the project would add to greenhouse gas emissions.

Outgoing Republican President Donald Trump issued a presidential permit in 2017 that allowed the line to move forward, and several environmental groups sued the U.S. government.

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