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TC Energy (formerly TransCanada)

TC Energy Corporation (formerly TransCanada Corporation) is a natural gas, oil and power-generation company headquartered in Calgary, Alberta. TC Energy owns more than 92,600 km of natural gas pipeline in North America and transports more than 25 per cent of the gas consumed on the continent. It also operates power plants and gas storage facilities. A public company, it trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol TRP. In 2018, TC Energy registered $13.7 billion in revenue and $3.5 billion in profit and held $98.9 billion in assets. The company employs about 7,300 people, more than half of them in Canada.

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Keystone XL Pipeline

Keystone XL was a proposed 1,947 km long pipeline project that would have carried crude oil from Alberta to Nebraska. It was owned by Calgary-based TC Energy Corporation. The pipeline was named XL for “export limited.” First proposed in July 2008, it was the prospective fourth phase of TC Energy’s existing Keystone Pipeline system. In Canada, Keystone XL had the support of both the federal and Alberta governments. However, the project faced significant opposition and legal challenges on environmental grounds. In January 2021, United States president Joe Biden cancelled its permit on his first day in office. On 9 June 2021, TC Energy and the Alberta government announced the termination of the Keystone XL pipeline.

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Pipelines in Canada

Pipelines are systems of connected pipes used to transport liquids and gases — namely oil and natural gas — across long distances from source to market. More than 840,000 km of pipelines criss-cross the country, part of a larger oil and gas sector that employs between 100,000 and 200,000 Canadians. According to Natural Resources Canada, the sector earns the government an average of $19 billion in royalties, fees and taxes each year (see Natural Resources in Canada). It also contributes nearly 8 per cent of Canada’s gross domestic product.

Yet pipelines have also been controversial in Canada over fears that the fossil fuel use they facilitate could be significantly contributing to climate change. In recent years, Indigenous groups, environmentalists, municipalities, mayors and labour unions have opposed numerous pipeline projects they believe could contaminate local waterways through spills and leaks. (See also Environmental Movement in Canada