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Canada may seek U.S. payback via NAFTA after Biden cancels Keystone XL
Feb. 5, 2021
Source: world oil

Canada may seek U.S. payback via NAFTA after Biden cancels Keystone XL

Alberta, which spent C$1.5 billion ($1.2 billion) to help jump start construction of the project, may resort to a North American Free Trade Agreement provision allowing compensation claims for lost investments, Alberta Premier Jason Kenney said. While NAFTA was replaced by the United States-Mexico-Canada Agreement during the Trump administration, the rule remains in place during a phase-out period.

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