Canada and Alberta are close to a deal that would raise the industrial carbon price to $130 per metric ton. This move aims to create a stronger financial incentive for oil sands emitters to invest in decarbonization technology, as current credit prices remain too low to drive significant change. The agreement is a critical piece of a larger negotiation involving the $16.5 billion Pathways carbon capture and storage project. The federal government has indicated that approval for a new crude oil export pipeline to the West Coast depends on the success of this carbon pricing deal and the commitment of oil companies to the carbon capture project.
