Canada has reached a new energy deal between the federal government and Alberta to improve the investment climate for oil and gas. The agreement streamlines regulatory approvals and establishes a new industrial carbon pricing framework for the oil sands sector. Federal approval for a new 1 million barrel per day pipeline is tied to carbon capture and storage commitments. While the deal offers a clearer path for growth, industry executives note that high business costs and competition from the U.S. remain significant hurdles.
