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Petrochemistry

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The sponsor of the Keystone XL crude oil pipeline said Wednesday it is pulling the plug on the contentious project after Canadian officials failed to persuade President Joe Biden to reverse his cancellation of its permit on the day he took office.

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 President Donald Trump signs executive actions to advance the construction of the Keystone XL pipeline, along with the four-state Dakota Access oil pipeline.

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The State Department issues an environmental review that raises no major objections to the Keystone XL oil pipeline and says other options to get oil from Canada to Gulf Coast refineries are worse for climate change.

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TransCanada files paperwork to expand the existing Keystone pipeline with a new Keystone XL route. The pipeline would extend from Canada's tar sands through Montana, South Dakota and Nebraska, where it would connect with the existing Keystone pipeline route to carry more than 800,000 barrels of crude oil a day to specialized refineries along the Texas Gulf Coast.

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