Canada and Alberta sign carbon pricing deal to advance oil pipeline to Asia
Prime Minister Mark Carney and Alberta Premier Danielle Smith signed an industrial carbon pricing agreement on Friday, clearing a key regulatory hurdle for a new oil pipeline that could boost crude exports to Asia. The deal sets a gradually rising carbon fee reaching C$130 per tonne by 2040, a rollback from the C$170 by 2030 target under former PM Justin Trudeau. Expanding overseas energy exports is central to Carney's strategy to reduce Canada's economic reliance on the US under President Trump. Smith, previously a critic of Trudeau's climate policies, has sought cooperation with Carney. The pipeline plan faces environmental opposition.
Key facts
- Prime Minister Mark Carney and Alberta Premier Danielle Smith signed a carbon pricing deal on Friday.
- The deal sets a carbon fee of C$130 per tonne by 2040.
- The previous target under Justin Trudeau was C$170 per tonne by 2030.
- The agreement is a key step towards building a new oil pipeline to Asia.
- Expanding energy exports is part of Carney's strategy to reduce reliance on the US.
- Smith was a critic of Trudeau's climate policies but is working with Carney.
- Oil companies have criticized the carbon pricing system.
- The pipeline plan faces environmental resistance.
Entities
Locations
- Canada
- Alberta
- Asia
- United States
- Calgary