Canada will fast track the approval process for a new proposed crude oil export pipeline to its west coast that could generate over C$20 billion ($14 billion) a year in GDP, Prime Minister Mark Carney said on Thursday.
The pipeline, which was announced in July, is a crucial part of Carney’s bid to diversify the economy away from the United States and help lessen the effect of Donald Trump’s tariffs.
Carney said Ottawa would officially list the Pacific Link pipeline as a project of national interest, which enables it proceed through a single federal regulatory review process. He said Ottawa aimed to complete the process by September 1, 2027.
No first nations want it along irs route. Good luck.
As a Canadian, I’m mixed on this. I acknowledge the argument that oil is still a product that is going to remain in demand for a long time still, even as demand declines. I don’t see the middle east conflict being entire over for a long time yet either, so having a conflict free (ish? As long as the US doesn’t invade) source may help our allies as they move to other energy sources.
That said, I don’t know that the cost is worth the potential returns, and every day it seems more certain that the Canadian taxpayer is going to bear the cost of this “Nation Building Project.” That’s a lot of money that could have been spent on securing low carbon infrastructure at home.
Mixed feelings as well. But it does mean we can sell the same amount of oil at higher prices to world markets instead of selling at a discount to the US.
Maybe he’s just trying to keep Alberta happy and engaged.
