(Bloomberg) — North America’s most infamous oil pipeline project just got a surprise $5.3 billion financial aid package from Alberta as the Canadian province fights to rescue its battered oil-sands industry.Keystone XL, which for years has faced court challenges and environmental opposition in the U.S., will get a $1.1 billion investment and a $4.2 billion loan guarantee from Alberta to help TC Energy Corp. build the line to the U.S. Gulf of Mexico. The Calgary-based pipeline giant said it will invest the remaining $2.7 billion.Once touted by Canada as a key step to turn the country into an energy superpower, …read more
Source:: Yahoo Finance
