KXL Pipeline Company Exploits NAFTA Provision to File $15 Billion Claim Against US

The Canadian company behind the canceled Keystone XL pipeline filed a formal request for arbitration this week under the North American Free Trade Agreement to seek over $15 billion in economic damages over the Biden administration's revocation of the cross-border oil project's permit. In its Monday filing, TC Energy criticizes the permit's cancellation as 'unfair and inequitable' and argues the U.S.

' Related Content After 'Incredible First Steps' on KXL and Paris, Biden Urged to 'Go Further' on Climate Jessica Corbett In July, a month after it declared the project dead, TC Energy filed its intent to use the NAFTA Chapter 11 investor-state dispute settlement provisions to recoup perceived economic losses. As such, the new filing is not surprising, author and water rights expert Maude Barlow noted in a Tuesday tweet.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Worth the wait': Tricky Tortoise Brewing Company officially opens at old Willoughby Brewing Company locationReporter at News 5 Cleveland
Source: WEWS - 🏆 323. / 59 Read more »

Republicans urge Biden to prevent French company from collaborating with Russian nuclear companyA letter to President Biden from two Republicans warned that waiving Russia sanctions would allow a French power company to work with Russia-owned nuclear company Rosatom.
Source: FoxNews - 🏆 9. / 87 Read more »