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A Plug in the Pipeline: Keystone XL Revival Tempered by Tariff Talk

December 30, 2024 at 4:00 am Staff
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News Analysis President-elect Donald Trump has vowed to issue a day-one executive order to restore federal approvals for the proposed Keystone XL Pipeline while also pledging to slap tariffs on Canadian imports. “It’s kind of a confusing moment,” Toronto commodity analyst Rory Johnston, founder of CommodityContext.com, told The Epoch Times. “You have, on one hand, [Trump] saying he wants free trade to reduce energy prices for consumers, while at the same time, on the other hand, threatening to throw tariffs on the barrel that would, presumably, flow through that pipeline, increasing prices for consumers.” Trump has the leverage to play both hands. In 2022, Canada exported 82 percent of its crude oil, according to Canada Energy Regulator, with more than 83 percent of that export volume sent to the United States….

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