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Some 15,000 pieces of pipe for TransCanada Corp.’s Keystone XL pipeline lie in a field in North Dakota on April 23, 2013.
Some 15,000 pieces of pipe for TransCanada Corp.’s Keystone XL pipeline lie in a field in North Dakota on April 23, 2013.
(The Globe and Mail/ Nathan VanderKlippe)

Keystone XL won’t unleash a gusher of profit: report

In debates over the proposed Keystone XL pipeline, investors often find themselves across the table from environmentalists. But if a study commissioned by a green NGO is right, the two groups may have found an issue they can agree on.

The report, issued Nov. 25 by climate change think tank Carbon Tracker, warns that new oil-sands development is “increasingly economically questionable,” and that the profitability of oil sands projects made possible by Keystone XL construction is much smaller than is widely assumed.