The big question about the pipeline is why have it at all? The only people who need to transport Canadian oil are the people who own the rights to it -- I doubt that it will much benefit Canada in general, and the world doesn't need it, at the moment, anyway. The world is awash in oil. Actually, one cynical reason for Biden to block the pipeline is that Canadian oil would compete with North Dakota oil, which, at the moment, is supine. USA! USA!
The "dying industry" comment. The oil industry is dying, and I expect it will become largely redundant sometime in the 22nd century. At the moment, the US electric car industry has reached the point of producing about 5% of cars (plug-in and hybrid.) The rest depend on oil. The new power plants being built to provide the electricity to run those electric cars run on oil and natural gas. Wind and solar are about 12% of production, and are running up against some limits (not enough economic wind and sun in places where transmission is efficient) and political constraints (NIMBY and environmental activism.) The fact is, oil can be very cheap if you ignore the environmental problems it creates. And cheap power will be critical in places like India and Russia and western China for a long time. Oil is fungible, and the world market really doesn't care where it comes from.
Capitalism isn't an ideology, it's a technique for raising money. Socialist/communist countries have found it to be quite a useful technique in building their economies (China, Vietnam.) What's really at issue is the tissue of "conservative" policies which do amount to an ideology that deplores governmental intervention in private industry and personal privilege. The problem is that these conservative policies too often don't recognize reasonable limits on the rights of persons and industries to do what they please. The result is that rich companies like McDonalds poor-mouth about having to pay even a marginally livable wage to employees. The average crew member at McDonalds makes about $9 an hour in the US; most aren't given 40-hour weeks. At that rate, a crew member would qualify for food stamps in most and maybe all states.