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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (81190)	4/1/2020 6:42:46 AM
From: Goose94	Read Replies (1) of 202720

TransCanada (TRP-T) Alberta government is providing TC Energy with a cash injection and loan guarantees that will allow it to start construction of the contentious Keystone XL oil pipeline to the United States in the midst of an economic crisis. TC Energy said Tuesday it plans to start work on the $11.5-billion project more than a decade after it first applied to build it (all figures U.S.). Alberta agreed to contribute $1.1-billion to gain an ownership interest that it plans to sell back to the company after commercial operations begin. It will also guarantee $4.2-billion of debt related to the 1,947-kilometre pipeline, which has gone through a dizzying array of applications, regulatory reviews, scientific studies, redesigns and legal cases since its initial application. The company said it will cost $8-billion to complete the pipeline on top of the $3.5-billion already spent. Completion is scheduled for 2023, but complications could still upend the plans, such as legal challenges at the U.S. federal and state levels or political change in Washington. On Monday, the price of Western Canada Select heavy oil sank to less than $4 a barrel.

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