Canada at crossroads as pipeline opponents keep up the pressure

|By:, SA News Editor

Hedge fund billionaire and big Democratic donor Tom Steyer has been pushing the importance of greener, cleaner energy and has said that stopping the Keystone XL pipeline (TRP) is a way to prevent climate change disasters, but today his message was that the pipeline is a bad business deal for the U.S.

"It’s a great deal for China" but not for the U.S., which Steyer says won’t see the profits since Keystone “runs through America, not to America,” and because the Canadian tar sands crude will prove so profitable that there will be little incentive to replace oil with other energy sources, which he says is necessary to lower global carbon emissions.

Canada’s bid to become an energy superpower is at risk as approval delays for new pipelines threaten an industry already hurt by high costs and rival production, according to a Bloomberg analysis, as regulators take their time reviewing Enbridge's (ENB) Northern Gateway, Kinder Morgan's (KMI, KMP) Trans Mountain as well as the Keystone pipeline.