Alberta Carbon Pricing Deal Nears Completion Amid Pipeline Uncertainty
Canada and Alberta are on track to finalize a carbon pricing agreement within two weeks. The deal will increase the price that industrial emitters in Alberta pay for carbon to C$130 per metric ton, up from the current range of C$20-C$40.
The agreement is one part of a broader effort to tackle greenhouse gas emissions and greenlight a new crude oil export pipeline from Alberta to British Columbia's northwest coast. Prime Minister Mark Carney has said that any pipeline project must be built alongside a carbon capture and storage project, which would involve the Pathways project.
The Pathways project is a C$16.5 billion initiative aimed at reducing emissions from Canada's oil sands. However, critics say that without a clear agreement on carbon pricing, it's unlikely that the pipeline project will move forward.