This High-Yielding Energy Stock Is Moving Forward With a Highly Controversial Project

TC Energy (NYSE: TRP) has approved the construction of the controversial Keystone XL pipeline project. The Canadian energy company expects to invest $8 billion to build the pipeline, which will transport oil from Western Canada to the U.S. Gulf Coast. The company expects the pipeline to start up by 2023, assuming there aren't any further delays.

TC Energy has been working toward approving the construction of Keystone XL for several years. It had many hurdles to overcome, including securing the necessary financing for the project. That came from a non-traditional source as TC Energy secured the backing of the Government of Alberta to help fund a portion of the project. 

Image source: Getty Images.

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Source Fool.com