U.S. President Joe Biden revoked the permit for Calgary-based TC Energy's Keystone XL pipeline via executive action after being sworn in as the 46th U.S. president on Wednesday.

Plans to revoke the permit for the $8 billion pipeline on Inauguration Day were first revealed by CBC News on Sunday and sent shock waves through Alberta.

"I'm proud of today's executive actions, and I'm going to start by keeping the promises I made to the American people," Biden said from the Oval Office.

"We're disappointed that the new president has lost sight of the huge economic and strategic advantages of this project," said PCAC president Paul de Jong.

"Pulling the plug on a major project, hours after taking office, is a rocky starting point for re-setting Canada/U.S. relations."

https://www.cbc.ca/news/canada/calgary/biden-keystone-xl-permit-revoke-inauguration-1.5880268