Bennett Jones
John Baird comments in Canadian Press on how the election of Joe Biden as U.S. president likely spells the end of the Keystone XL oil pipeline, but why Biden's environmental agenda could help Canadian energy companies better compete with their American rivals.
Keystone XL is a high-profile target for Biden's administration, and he will likely carry out his campaign pledge to kill it, John says. “I really fear we're in trouble on Keystone ... this is something he can do with the stroke of a pen and I'm deeply concerned that he will revoke the presidential permit.''
However, Biden is better aligned than U.S. President Donald Trump with Canada's federal stance on climate change and John says his influence on U.S. regulatory and environmental systems could make Canadian companies more competitive with their U.S. peers, who have enjoyed more business-friendly policies under Trump.