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Wednesday, April 6, 2022

Biden seeks to import Canadian oil

But Biden wants to bring the oil in by rail.

Biden administration officials are seeking ways to boost oil imports from Canada, people familiar with the situation say, but with one big caveat -- they don’t want to resurrect the Keystone XL pipeline that President Biden effectively killed on his first day in office.

Longer term, Canadian officials and oil-industry analysts say expanding the existing Keystone pipeline network would offer a bigger, more efficient solution.

The XL expansion was to carry 830,000 barrels a day of Canadian crude from Alberta to Nebraska, where the pipeline would meet up with the existing Keystone pipeline, and then on to refineries on the U.S. Gulf Coast (Wall Street Journal).

According to the Wall Street Journal, the Biden administration is seeking to increase Canadian oil imports through rail, which is dirtier and riskier for the environment than pipelines, as Secretary of Transportation Pete Buttigieg admitted.

The Biden administration has defended its decision on Keystone XL by claiming that it would not have been completed on time to address the present fuel crisis. It has not answered the criticism that canceling Keystone XL sent a signal to oil and gas producers about the intention of the administration to limit future exploration and development, which it then duly did (Breitbart).

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