Canada Eases Regs to Boost Oil Sands Output Amid Trade Tensions

Canada's energy minister, Tim Hodgson, claims that oil sands producers now have the necessary policies to boost production and meet growing demand. This comes as the government plans to remove federal environmental reviews of energy projects, including pipelines and oil sands operations.

The move is part of a broader push by Prime Minister Mark Carney's administration to increase energy production and reduce reliance on the US market amid trade tensions. The Canadian and Alberta governments are working to negotiate terms for a major carbon capture project with five major oil sands producers.

Hodgson stated that the industry has what it needs from the federal government, citing 'various incentives' being discussed. However, the oil sands sector has been slow to invest in expansion projects due to regulatory hurdles and environmental concerns under previous governments.