Alberta Energy Deal Stalls Despite Global Oil Price Surge

The Alberta energy deal signed last year is moving at a slow pace, according to five of Canada's largest oilsands producers and clean energy groups.

The deal pairs a new oil pipeline with environmental measures like industrial carbon pricing and methane emissions reduction. In a statement, the Oil Sands Alliance said progress has been too slow, citing 'complex regulatory processes' as a major hurdle.

However, a group of climate leaders disagrees, calling on Ottawa to deliver on policies that will scale domestic clean energy solutions, reduce emissions, and set Canada up for economic success in a rapidly decarbonizing world. They argue that the oil executives are laying out 'a false choice' between competitiveness and decarbonization.

The International Energy Agency's head, Fatih Birol, is visiting Ottawa this week to discuss the 'once-in-a-generation opportunity' for Canada. He emphasized the need for Canada to accelerate energy infrastructure projects to take advantage of soaring global oil prices.