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Global Markets: TC Energy ponders steel, equipment sell-off

By MarketsFarm

WINNIPEG, Feb. 19 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– With the cancellation of the Keystone XL pipeline, TC Energy said on Thursday it’s considering selling the steel and other equipment it acquired for the multi-billion dollar project. United States President Joe Biden pulled the plug on the controversial pipeline on Jan. 20. Since then, TC Energy laid-off approximately 1,000 workers. The nearly 1,900-kilometre pipeline was to move 830,000 barrels of crude oil per day from Alberta to Nebraska, where it would have connected to existing pipelines to take it to refineries on the U.S. Gulf Coast.

– Texas Governor Greg Abbott has been drawing sharp criticism this week after the Lone Star State woefully struggled to deal with a winter storm and unusually cold temperatures. The state’s power grid failed in the freezing temperatures, which rendered millions without power. Also, about 13 million residents are under a boil water order. The Republican Abbott blamed the power failure on a growing reliance on renewable energy, however Texas is the only state of the contiguous 48 not to be connected to the country’s power grid.

– The Perseverance rover landed on Mars on Thursday after it was launched seven months ago by NASA. The rover came down in an ancient lake, believed to be a prime location to determine whether or not life once existed on Mars. Among the instruments onboard Perseverance is a mini helicopter that can further explore the lake and its delta.

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