While Canada appears to have conceded the point with regard to the demise of the Keystone XL project, let’s not be lulled into thinking that the trade-off is peace on the Canada-U.S. energy front. One could argue that at least the decision on Keystone XL, as much as it dashes many economic hopes, more or less maintains our current status quo. The potential demise of Line 5, however, would be something much different and the effect would be very immediate and very real. No doubt the prime minister would prefer of dearth of trade irritants so as to better foster this burgeoning relationship with the new president. Unfortunately, we’re careening headlong into a pretty big one.