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Photo: Andrew Burton/Getty Images

State officials said Thursday that TC Energy's Keystone Pipeline System leaked an estimated 383,000 gallons of crude oil in North Dakota, according to the Associated Press.

Why it matters: The Keystone Pipeline — which can carry 23 million gallons of tar sands oil every day from Canada to oil terminals in Illinois — and its proposed "XL" expansion project have been the target of environmental protests for years.

Details: The leak occurred in a drainage area near the town of Edinburg in northeast North Dakota, less than 50 miles from the Canadian border, according to the New York Times.

  • The leak affected 22,500 square feet of land, including some wetlands. State authorities said the leak has been contained and that no sources of drinking water were contaminated.
  • The company and regulators told AP that the cause of the leak is being investigated.

The big picture: Per Axios' Amy Harder, pipelines are a far safer way to transport oil than other ways (like trains), but nonetheless risks exist. Environmentalists, looking to oppose oil and gas in any way possible, seize on pipeline spills as evidence the industry isn't safe.

  • Between the lines: This particular pipeline is part of a larger system of pipelines that includes the Keystone XL project, much of which has been stuck in a permitting, political and legal morass for more than a decade.

Go deeper: Keystone XL pipeline approved in Nebraska, but more legal challenges await

Go deeper

Fed signals it could yank economic support quicker as inflation sticks around

Federal Reserve chairman Jerome Powell testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee today. Photo: Alex Wong/Getty Images

The Federal Reserve will consider pulling back economic support sooner "as the threat of persistently high inflation has grown," chair Jerome Powell said during a congressional hearing on Tuesday.

Why it matters: This is the biggest signal yet the Fed is backing away from its stance that soaring prices would be fleeting — a change that could shift its policies that underpin the economy.

Felix Salmon, author of Capital
Updated 3 hours ago - Economy & Business

Crypto meets the real world

Illustration: Megan Robinson/Axios

The two largest countries in the world seem intent on effectively banning their citizens from participating in crypto, which poses a serious threat to the crypto agenda.

Why it matters: The crypto world is global — but the real world is fragmented into nation-states, each of which claims control of what happens within its borders.

Meadows cooperating with House Jan. 6 select committee

Mark Meadows. Photo: Yuri Gripas/Bloomberg via Getty Images

Former White House Chief of Staff Mark Meadows is cooperating with the House select committee in charge of investigating the Jan. 6 Capitol insurrection, the panel said Tuesday.

Driving the news: Meadows, who failed to appear before the panel earlier this month, is believed to have insight into former President Trump's role in efforts to stop the certification of President Biden's election win.