‘Keystone Pipeline Developers Seek $15 Billion From U.S. for Cancellation’

TC Energy Corporation is seeking to recover costs and damages from “regulatory roller coaster” and ultimate shutdown of the Keystone XL pipeline construction project.

“We’re not doing this for symbolic or political purposes. This is a business decision,” Prior said in an interview. “We had all the permits and requirements in place to start construction on the line, and did so, and we worked with federal and state regulators in both countries for a very long period of time. This is just about recovering that destroyed value of investment.”

Bloomberg By Jennifer A Dlouhy, November 22, 2021, 4:30 PM EST

The thing is, if this suit were awarded, could fossil fuel companies in future seek to recover costs and damages for assets stranded by a hypothetical future U.S. law which prohibits emissions from burning of fossil fuels?

The American legal system and its Constitution are a mess, at least in terms of environmental legislation.

From Martin Wolf’s “Dancing on the edge of climate disaster“, The Financial Times, 22nd November 2021.

About ecoquant

See https://667-per-cm.net/about. Retired data scientist and statistician. Now working projects in quantitative ecology and, specifically, phenology of Bryophyta and technical methods for their study.
This entry was posted in climate disruption, climate economics, stranded assets. Bookmark the permalink.

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