KEYSTONE XL PIPELINE OFFICIALLY DEAD

 Albertans will owe about $1.3 billion for Keystone XL as the government and TC Energy confirmed Wednesday the pipeline project is officially dead.

The announcements come after U.S. president Joe Biden signed an executive order to revoke the pipeline’s permit on his first day in office in January — a move he had promised during his election campaign.

In a news release Wednesday afternoon, the government said it reached an exit agreement with TC Energy, but both parties would still look for ways to recoup the government’s investment in the project. The release said final costs to the government are expected to be approximately $1.3 billion, as previously estimated.