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Carney pitches oil pipeline as a response to US-Canada trade war
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Canadian Prime Minister Mark Carney has announced plans to fast-track the approval process for the 1,250km Pacific Link oil pipeline project to diversify Canada's oil markets away from the US and respond to American protectionist tariffs. The project aims to transport one million barrels of crude oil per day from Alberta to a deep-water port in British Columbia for shipment to global markets, boosting Canada's GDP and creating 140,000 jobs, though it faces anticipated opposition from environmental groups and some indigenous communities.
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- Canadian Prime Minister Mark Carney announced the fast-tracking of the 1,250km Pacific Link oil pipeline project to the Pacific coast.
- The project aims to reduce Canada's economic vulnerability and dependency on the US market, which previously received 90% of its crude oil exports.
- Pacific Link is projected to carry one million barrels of crude oil per day from Bruderheim, Alberta, to a port near Delta, British Columbia.
- The pipeline is expected to boost Canada's GDP by up to C$30bn annually and create 140,000 jobs.
- Federal approvals and regulatory reviews for the project will be fast-tracked under a new law designed to give investors a decision within a year.
- The project is projected to cost between C$35.2bn and C$43.7bn and is backed by the federal government, Alberta, and the Pembina Pipeline Corporation.
- Construction is planned to begin by 2032 if final approval is granted, though pushback is expected from environmental groups and some indigenous communities.