On this special mid-week podcast Journal of Commerce staff writer Russell Hixson is talking with Mike Holden, the vice president of policy and chief economist for the Business Council of Alberta about the recent rejection of the Keystone XL pipeline project and what the future holds for the Alberta economy.
Holden said while rejection of the pipeline by President Joe Biden wasn’t a surprise it was a disappointment for Albertans and the various industries in the province tied to pipeline development. He also pointed out Alberta has endured “punch after punch” given multiple oil price crashes and the COVID-19 pandemic along with cancellation of Keystone.
Holden also said there are still avenues to take advantage of resource assets, such as attracting private capital to the province and communicating Alberta’s successes in moving toward sustainability and a low-carbon future. Federal support for the province and for projects similar to Keystone XL would also boost confidence.