Canada plans to sell Keystone XL for scrap if Biden kills project

The Canadian province that invested in the crude pipeline is looking to sell it to recoup some of its $1.1bn.

The Canadian province that invested $1.1 billion of taxpayers’ money in the controversial Keystone XL project is now considering the sale of pipe and materials to try to recoup some funds. “If the project ends, there would be assets that could be sold, such as enormous quantities of pipe,” Alberta Premier Jason Kenney said in a press conference Monday. “That would offset construction costs.” With Joe Biden set to be sworn in this week, the U.S. president-elect’s campaign promise to cancel the crude pipeline’s license is haunting the Canadian oil sands industry. The decision may come via executive action on his first day in office, CBC News reported on Sunday, citing people it didn’t identify.