Canada has enacted Bill C-5, the One Canadian Economy Act, after the Senate passed the measure without amendments on 26 June and the bill received royal assent the following day. The law empowers the federal cabinet to designate projects of “national interest,” override certain environmental and other federal requirements, and remove internal trade barriers in order to accelerate construction of major infrastructure such as pipelines, mines and transmission lines. Prime Minister Mark Carney said in a weekend interview that it is “highly, highly likely” a privately led oil pipeline to the British Columbia coast will be proposed for the new priority list, citing the scale of the economic opportunity. Carney also indicated support for a C$16.5 billion carbon-capture system for Alberta’s oil-sands industry, suggesting it too could qualify under the streamlined approval process. Alberta Premier Danielle Smith, who on 24 June forecast a private-sector pipeline proposal within weeks and estimated capacity at about one million barrels a day, welcomed the federal stance. On 7 July Smith and Ontario Premier Doug Ford signed memorandums of understanding to study new energy corridors and expand inter-provincial trade, moves aimed at positioning their provinces to benefit quickly from the legislation.
Ottawa’s promising to clear the way for a new million-barrel per day route to the Pacific. Exports, not emissions, are taking priority. https://t.co/gl9H2iC06S #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/N3RFXR2zGg
Prime Minister Mark Carney is eyeing a new oil pipeline to the West Coast among “national interest” projects, a new interview reveals. GET THE DETAILS: https://t.co/uppgAqshA3 https://t.co/fKt0oBN2tr
Great morning flipping pancakes and connecting with hundreds of Albertans at Premier @ABDanielleSmith’s Stampede breakfast in downtown Calgary. https://t.co/NsAlChRPTe