Canadian Prime Minister Carney predicts new oil pipeline proposal

A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed of national importance to the Canadian government, according to Prime Minister Mark Carney. Carney stated in an interview with the Calgary Herald that the private sector would be responsible for proposing the pipeline, rather than the government taking a top-down approach.

Carney expressed confidence in the economic opportunity, resources, and expertise available for such a project. He also voiced support for a proposed $16.5 billion carbon capture system for Alberta's oil sands to be considered for the list of national interest projects.

These statements follow the recent passing of a bill by Canada's Senate to expedite approval for natural resource and infrastructure projects. The bill aims to accelerate the approval process for projects of national interest, potentially including mines and oil pipelines, while also addressing trade barriers between provinces.

Canada, being the world's fourth largest oil exporter, is looking to diversify its economic ties beyond the United States, where it currently sends a significant portion of its exports.

According to the source: The Globe and Mail.