Random thoughts on the Keystone pipelines, opinions welcome.
I'm fully aware of the asset writedowns taken on the Keystone XL pipeline when on Biden's first day in office he "killed" the pipeline with a Presidential order. TRP has been a core holding of mine for years.
Now this is purely wishful thinking but with TRP spinning off South Bow, and the Keystone assets going to the newly created entity... what would the tax repercussions be if Trump were to give a presidential order to restart the XL pipeline project? Who would now be penalized for past asset writedowns if the project now falls under the umbrella of the new entity? What's the argument against this? Other then a few green groups who would oppose this, refuse this, or be in the way enough to stop it?
Purely speculative I know, but with Trumps political ramblings and policies in stark contrast to Biden's, it's come up years ago and is a perfect tit-for-tat. I'll grab my tinfoil hat but I've wondered if this asset division is in preparation to be able to act on such an order/opportunity IF (& it's a big IF) it presents itself? A wild card of sorts.