Although President Biden's move seems like an attack on Canada, it's actually a bigger negative for the US energy sector.
Most of the KXL pipeline sits on US soil, so most of the capital spending, construction jobs and tax revenues were also south of the border. It was also slated to transport Bakken crude from North Dakota into the USGC.
KXL would have improved energy security for the USGC, which is facing dwindling supplies of heavy oil imports, rising refinery input costs. The cancellation is a bigger loss for the Americans, as their refineries still need to import over 5 million bbl/day.