🇨🇦 Mark Carney · 3 sources
Another oilsands boom? Smith, Carney say this time Canada will be ready – Brandon Sun
What happened
The federal government, led by Prime Minister Mark Carney, has designated a new pipeline, Pacific Link, as a project in the national interest, which will allow it to be reviewed more quickly. The pipeline's economic success hinges on oilsands companies increasing their output. Alberta Premier Danielle Smith believes the next expansion of the oilsands will be different from the previous boom due to changes in the industry and government policies.
Why it matters
The potential increase in oilsands production could have significant economic implications for the region and the country. The new pipeline and policy changes may lead to increased oil exports to Asia. The government's designation of the pipeline as a project in the national interest may streamline the review process.
Key facts
- The pipeline's capacity is 1 million barrels per day.
- The pipeline is designed to transport oilsands crude to a tanker export terminal in southern British Columbia.
- Oilsands companies have been hesitant to invest in large-scale projects due to a lack of pipeline capacity, regulatory complexity, and environmental concerns.
- The industry has shifted from large-scale "green field" projects to smaller, more efficient operations.
Topics
Publisher evidence used
Reporting attributed to brandonsun.com. WorldLeadersNews links readers to the publisher and does not present a headline-only item as a full article analysis.
Also reported by
- winnipegfreepress.comSource
- globalnews.caSource
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