Canada and Alberta have signed an implementation agreement for a new West Coast oil pipeline, with construction targeted for September 2027. The deal includes a revised industrial carbon price trajectory, capping the price at 130 dollars per ton by 2035, which is lower than previous federal targets. To support decarbonization, the agreement introduces carbon contracts for difference covering 75 million tons of emissions. These contracts aim to incentivize major carbon capture and storage projects through shared funding between the provincial and federal governments.
