Keystone Pipeline could be sold
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.