Dec 2, 2022 - Economy

Keystone Pipeline could be sold

Dan Primack,
Ben Geman

Illustration of an oily dollar sign with the oil sloughing off to reveal a green dollar sign. — Illustration: Brendan Lynch/Axios

TC Energy, a listed Canadian oil and gas infrastructure giant, said it plans to divest C$5 billion of assets next year.

Why it matters: This could include a sale of the politically charged Keystone Pipeline, which TC ultimately was blocked from expanding.

What they're saying: In an earnings call, CEO François Poirier didn't identify any specific assets on the block, except to say there are no "sacred cows."

He added that TC expects the divestitures will help it reduce carbon emissions, in keeping with its pledges for a 30% cut by 2030 and net-zero by 2050.
Bu such sales could just transfer the emissions to a different corporate owner, rather than actually improve the climate.

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Keystone Pipeline could be sold

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