PM Mark Carney’s agreement with the province of Alberta is part of a bid to diversify oil exports to markets outside the US.
Canada’s Prime Minister Mark Carney signed an agreement with Alberta’s premier on Thursday that rolls back certain climate rules to spur investment in energy production, while encouraging construction of a new oil pipeline to the West Coast.
Under the agreement, the federal government will scrap a planned emissions cap on the oil and gas sector and drop rules on clean electricity, in exchange for a commitment by Canada’s top oil-producing province to strengthen industrial carbon pricing and support a carbon capture-and-storage project.
