Prime Minister Mark Carney and Alberta have agreed to a new industrial carbon pricing schedule, raising the effective cost to C$130 per metric ton by 2040. The deal aims to balance emissions reductions with the economic competitiveness of the oil industry against the United States. This agreement is tied to the potential construction of a 1-million-barrel-per-day crude oil pipeline. Approval for the project depends on industry commitments to carbon capture and storage investments and the completion of Indigenous consultations.
