16:30:01 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



TC Energy Corp
Symbol TRP
Shares Issued 1,029,471,588
Close 2023-06-29 C$ 52.82
Market Cap C$ 54,376,689,278
Recent Sedar Documents

Post/CP say TC Energy shouldn't be rewarded for bad bet

2023-06-29 09:45 ET - In the News

The Financial Post reports in its Thursday edition that a progressive public policy think-tank is urging the federal government to side against oil and gas transmission giant TC Energy in its dispute with the United States over the ill-fated Keystone XL project. A Canadian Press dispatch to the Post says that TC Energy is seeking to recoup $15-billion (U.S.) in lost revenue from the on-again, off-again cross-border pipeline expansion, which U.S. President Joe Biden killed off for good in 2021. The lawsuit is based on the investor-state dispute rules in the now-expired NAFTA, as well as that deal's successor, the U.S.-Mexico-Canada Agreement, which included a three-year extension of those rules for so-called "legacy" investors. A report to be released Wednesday by the Canadian Centre for Policy Alternatives recommends Ottawa back the U.S. defence: that TC Energy has no legal recourse under North American trade rules, past or present. The think tank argues that the case represents an important chance for both governments to defend their ability to pursue climate-friendly public policy without being forced to "unjustly" enrich investors. TC Energy bet on a Donald Trump victory, and lost, the report's authors say.

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