Ottawa and Alberta finalize carbon pricing deal to enable a 1 million barrel-per-day crude pipeline to the West Coast.
Canada and Alberta have agreed on a carbon pricing framework, allowing construction of a 1 million barrel-per-day oil pipeline to the Pacific to begin as early as September 2027. The deal resolves years of political gridlock over the project, which aims to expand crude export capacity to Asian markets.
The agreement builds on a November memorandum outlining federal support conditions. Previous attempts to advance the pipeline stalled due to environmental and Indigenous opposition, but the new terms address emissions pricing and regulatory hurdles.
No immediate market reaction was reported, though the project could boost Canadian oil producers’ access to global markets and reduce reliance on U.S. refineries.