Does cancelling Keystone Permit violate Takings Clause
Posted on: January 18, 2021 at 01:36:03 CT
ScottsdaleTiger MU
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The "Takings Clause" of the Fifth Amendment requires just compensation be paid for the taking of private property for public use.
Revoking the Keystone Pipeline permit would seem to be such a taking. I.e. the permit is private property, it's being taking for a public purpose (furthering climate change mitigation) and it has value.
Will the owners of the pipeline (a Canadian oil company and the Alberta government) sue the Federal Government for the fair market value of the permit. Some estimates place its value at eight billion.