By Canadian Press

$7.5-billion investment

Members of Kenney’s UCP caucus nix NDP bid to seek details of failed Keystone XL deal

Jan 26, 2021 | 2:30 PM

EDMONTON — Members of Premier Jason Kenney’s caucus have refused an Opposition NDP bid to make public details of Alberta’s $7.5-billion investment in the failed Keystone XL pipeline project.

The eight members of the governing United Conservative caucus rejected an NDP motion in public accounts committee today to ask Kenney for the details, along with any financial risk advice he was given when he made the investment last March.

At that time, the Keystone XL line was facing multiple court challenges and the emerging Democrat party candidate, now President Joe Biden, was on record against the cross-border pipeline.

The line was to take more Alberta oil through the U.S. Midwest and on to refineries and ports along the Gulf Coast to fetch a better price on overseas markets.

Biden promised in his election campaign to cancel Keystone and did so last week on his first day in office, saying more product from Alberta’s oilsands does not mesh with his larger goal of combating climate change.

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Alberta has directly invested $1.5 billion with another $6 billion in loan guarantees, but the NDP says Albertans need to know the rationale Kenney used to make what it calls a risky decision and what the final bill will be now that the project is shelved.

(Dean Bennett)