Keystone

Weekly "Focus" and the Keystone 

Talk of reviving TC Energy's Keystone XL pipeline project is in the news as the US considers how to stop the importation of oil and other petroleum products from Russia. According to the US EIA, Russian crude imports averaged just over 700,000 barrels per day in 2021 and if it was ever built, the Keystone XL pipeline was designed to bring 800,000 barrels of oil per day from Canada to refineries in the US. Cancelling the project was a priority for President Biden on the first day of his administration and perhaps if a Republican wins the White House in 2024 it gets approved the first day a new President takes office. In the meantime, the strength in the energy sector has provided a positive backdrop for Canada's energy infrastructure companies.  

This week’s "Focus" from our economics team is available in our Resources Tab under Economic and
Market Updates. Click on the link https://nesbittburns.bmo.com/bradley.goldhar/resources.

Have a great weekend and please stay safe,

Brad

Bradley Goldhar | Senior Portfolio Manager and Senior Investment Advisor

BMO Nesbitt Burns Inc. | 1 First Canadian Place | 39th Floor | P.O. Box 150 | Toronto ON M5X 1H3 416.359.6650 (direct) | 416.359.7219 (fax) | 1-800-263-1883 (toll free)

bradley.goldhar@nbpcd.com

www.goldhargroup.com


Source: 
(i) ThomsonOne

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