Trump Revives Keystone XL Pipeline Project Amid Trade Talks

US President Donald Trump has announced plans to revive the Keystone XL pipeline expansion project as part of trade talks with Canada. The move comes after a three-day pause on tariffs of up to 50% on Canadian goods was agreed upon.

The proposed pipeline would allow for the transportation of crude oil from Alberta's oilsands to US refineries on the Gulf Coast, potentially sending Canadian oil to both domestic and international markets faster than a future West Coast pipeline project.

Experts say the Keystone XL expansion is still economically viable but faces many challenges. Some industry experts have expressed skepticism about the revival of the project, citing the long timelines and varied competing interests involved.

Derek Holt, vice president and economist at Scotiabank, noted that 'Trump's post merely says the two countries have a deal while intimating that the Keystone XL pipeline is back on.' However, Holt added that 'we'll see about that given a guarded industry toward the pipeline.'

Richard Masson, former CEO of the Alberta Petroleum Marketing Commission, said, 'Whatever Keystone XL might be coming out of the ground from President Trump may be nothing more than what's already in place. It's really hard to understand what he's doing other than trying to take credit for something.'