This is a multibillion-dollar project that has been blocked many times by the Trump and Joe Biden administrations.
The Keystone XL pipeline was first proposed in 2008, with the goal of transporting 830,000 barrels/day of oil from Canada to US refineries. However, this project faced strong opposition from environmental groups and was repeatedly delayed under the Democratic Party's rule.
In 2024, the initial project developer TC Energy separated the pipeline and established South Bow Energy, which said it had no intention of restarting Keystone XL.
However, in a post on the social network Truth Social on February 25, Mr. Trump called on TC Energy to return to the US and restart the project immediately.
I know they have been treated very badly by Joe Biden, Trump wrote, emphasizing his determination.
He also stated that if TC Energy did not participate, there would be another company to replace it, and emphasized: "We want Keystone XL to be built".
During his 2017-2021 term, Trump reversed his predecessor Barack Obama's decision to reject Keystone XL, arguing that the project would create more jobs and reduce dependence on foreign oil.
However, in his first week in office in 2021, President Joe Biden revoked the license and suspended all projects, limiting oil and gas exploitation on federal land. The move sent gasoline prices soaring in the US, and the Republican Party later blamed Mr. Bidens policies.
This time, with President Trump again pushing for Keystone XL, environmental groups and Native American tribes have once again strongly opposed, warning that the project could harm the environment and the lives of local communities.
Although Mr. Trump expressed his determination, many experts in the oil and gas industry are still skeptical about the feasibility of this project.
The possibility of Keystone XL reviving is almost zero, Rob Thummel, an expert at Tortoise Capital Advisors, told Barrons.
In addition to legal and political barriers, the energy market has also undergone many changes. The US has now increased domestic oil production, while Canada has also expanded its oil and gas export infrastructure, making Keystone XL less economically attractive than before.
However, President Trump's resuscitation of the project shows that he is pursuing an energy policy that is completely opposite to Mr. Biden, with a priority on developing fossil fuels over renewable energy.
If Trump continues to push for Keystone XL, it could become one of the biggest confrontations between him and environmental groups during his term.
