In one of his first acts of office, U.S. President Joe Biden has issued an executive order that effectively kills the Keystone XL pipeline project.

The order states that the pipeline “disserves the U.S. national interest” and that approving it would be inconsistent with his campaign climate pledges.

Kenney calls the Keystone XL decision a ‘gut punch’ — but it’s one that’s been telegraphed for months. THE CANADIAN PRESS/Todd Korol

Alberta Premier Jason Kenney called the move a “gut punch” and an “insult” and has threatened legal action to recoup Alberta’s $1.5 billion investment in the project.

Prime Minister Justin Trudeau issued a statement that expressed disappointment, but struck a far more conciliatory tone. He signalled a desire to work with the Biden administration and implicitly conceded that the pipeline won’t be resurrected again.