The Canadian oil industry reacted with frustration and bitterness Friday after a U.S. judge ordered a halt to the Keystone XL pipeline project until it passes further environmental review.
The decision on Thursday means longer delays in finding a way to drain a glut of oil in Western Canada that has driven price discounts to multi-year highs and stalled investment, said Tim McMillan, CEO of the Canadian Association of Petroleum Producers.
"It's a vulnerability that we can't control and will cost us hundreds of millions if not billions of dollars as a nation and thousands of jobs," he said Friday.
"And the only reason it does have such a massive impact on us is self-inflicted wounds here at home on projects that could have given us resilience against this sort of ruling."
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