While White House press secretary Jen Psaki hilariously tells the media that Joe Biden's administration is "constantly monitoring" and "watching" the price of oil (as if they can and will do anything about it), the company behind the abandoned Keystone XL pipeline is suing the U.S. government for more than $15 billion in damages.
In a press release out last Friday, TC Energy announced it had "filed a Notice of Intent to initiate a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit."
"TC Energy will be seeking to recover more than US$15 billion in damages that it has suffered as a result of the U.S. Government’s breach of its NAFTA obligations," the release reads.
"...leaving the Keystone XL pipeline permit in place would not be consistent with my Administration's economic and climate imperatives," President Biden had said of the project.
As a result, TC was forced to lay off 1,000 workers.
Keystone XL President Richard Prior said at the time: "I believe this will send a concerning signal to infrastructure developers that resonates far beyond our project and will stifle innovation for a practical transition towards sustainable energy."
And as for Psaki, here's some advice for the administration that is apparently unaware of how supply and demand works, yet is still seeking lower oil prices:
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