It came as something of a surprise and it will contribute significantly to restoring confidence in the national economy. That something is the announcement that the Keystone XL pipeline will go ahead.
TC Energy – formerly known as TransCanada – signalled the decision Tuesday with the backing of the Alberta government which will take both a stake in the project’s ownership but will provide a loan guarantee as well. That it took government money to get this over the finish line is probably a sign of the times but the Kenney government’s decision to public money into it can also be seen as a breakpoint – marking a change in sentiment….a confidence builder.
It amounts to a signal that not every project has been put on the shelf but that there is something positive to look forward to.
It is also in stark contrast to the news that had been flowing out of the oil patch with Western Select prices falling below $4 a barrel this week, less that it costs to ship the product to market.
