Friday, 19th April, 2024
Friday, 19th April, 2024

Canada may seek US payback through NAFTA

The oil-rich Canadian province, which was severely damaged by Joe Biden’s move to kill the Keystone XL pipeline, is still considering compensation from the United States through the old free-trade rules.

Alberta, which has spent C $ 1.5 billion ($ 1.2 billion) to help start construction of the project, could adopt the provisions of the North American Free Trade Agreement to grant compensation claims for damaged investments, Alberta Premier Jason Kenney said. NAFTA was replaced by the US-Mexico-Canada agreement during the Trump administration, but the rule remains in effect for a period of time.

Kenny said on Facebook Live on Tuesday, “Withdrawal of regular approval has been withdrawn at my discretion in the case of Slam Dunk, a claim for damages through NAFTA, under the Investor Protection Act. “We believe we have a very strong case for damages and we will continue to work with TC Energy on this.”

The cancellation of the pipeline has dealt another blow to the oil-dependent province, which has already had two crude-market crashes since 2014. TC Energy Corporation’s Keystone XL will ship more than 600,000 barrels a day from Alberta’s oil sand to U.S. refineries. .

Pipes from the Keystone XL pipeline are stacked in a yard near Wayne, Alberta on Jan. 2.

As a result of the death of the project, TC Energy allowed about a thousand union workers to go on both sides of the border.

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