Keystone XL Gets Indigenous Investment With Hopes to Woo Biden

SourceBloomberg
SectorEconomy
CountryMiddle east

Photographer: Daniel Acker/Bloomberg Photographer: Daniel Acker/Bloomberg Keystone XL is receiving an investment from Canadian indigenous groups in a deal that TC Energy Corp. hopes will help save its embattled oil pipeline project from being scrapped by U.S. President-elect Joe Biden.Natural Law Energy, a group of five first nations in Alberta and Saskatchewan, will make an equity investment of as much as C$1 billion ($765 million) in the project, Calgary-based TC Energy said Tuesday. The company is close to striking deals with other indigenous communities in both the U.S.

and Canada, Bevin Wirzba, TC’s president ...read more...