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Canadian indigenous group to invest up to C$1 bln in Keystone oil pipeline – 11/18/20

Pipeline operator TC Energy reported that Canadian indigenous group Natural Law Energy will invest up to C$1 billion ($763.77 million) in its Keystone XL oil pipeline, despite U.S. President-elect Joe Biden’s promise to stop the project.

Keystone XL (KXL) would carry 830,000 barrels per day of crude from Alberta to the U.S. Midwest. It has faced a decade of opposition from U.S. landowners, environmental groups and tribes.

Some indigenous groups oppose pipeline projects, but other Canadian First Nations have invested in the industry to share in profits and jobs.

The investment by Natural Law Energy, a coalition of five First Nations, comes with KXL construction well underway in Canada.

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