Alberta and the Canadian federal government have agreed to a deal that increases the industrial carbon tax for heavy emitters to 130 dollars per tonne by 2040. In exchange, the federal government will facilitate the approval process for a new million-barrel-a-day bitumen pipeline to the West Coast. This agreement modifies previous federal targets, extending the timeline for tax increases while removing certain emissions caps on oil and gas. The deal aims to balance industrial competitiveness with climate goals by linking infrastructure expansion to a strengthened carbon market.
