WINNIPEG, Manitoba: TC Energy Corp’s sale of a CUS$1 billion (US$769 million) stake in Keystone XL (KXL) to a Canadian indigenous group is the result of over three years of pressure from a tiny Saskatchewan First Nation that demanded part ownership of the long-delayed oil pipeline, rather than short-term payments for allowing it to be built through its lands. Natural Law Energy’s (NLE) planned investment was billed by TC as the biggest-ever indigenous investment in an oil project, highlighting how some communities are seeking to share in the industry’s profits while others oppose it. Adding indigenous support may help efforts by Canada and TC to convince U.S. President-elect Joe Biden not to revoke the permit of the US$8-billion Keystone XL when he takes office as he has promised. If they are successful, millions of dollars will flow over a generation into indigenous communities to help youth afford university or pay for business investments, said Chief Alvin Francis of Nekaneet First Nation in Saskatchewan, one of five involved in NLE. “It’s about making life better for all of our youth,” Francis said. “If I could meet Joe Biden I'd say, ‘This a chance for you to change my First Nation’s view… Read full this story
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