Canada Pipeline Deal: Alberta Carbon Price Set to Rise to $140 per Tonne by 2040

Prime Minister Mark Carney and Alberta Premier Danielle Smith have reached an agreement to fast track a new oil pipeline to the West Coast. The deal includes a new industrial carbon pricing schedule that will see costs rise to $140 per tonne by 2040, reversing a previous freeze in Alberta. The agreement ties the pipeline's progress to the Pathways carbon capture and storage project. However, the project has recently scaled back its emissions reduction targets, leading to criticism from environmental groups and climate institutes regarding Canada's 2050 net zero goals.