Canada Lists Pacific Link Pipeline as National Interest Project

Canada has listed the 'Pacific Link' oil pipeline as a national interest project to reduce its dependence on the US market. According to Prime Minister Mark Carney, the new West Coast Oil Pipeline will allow Canada to export an additional 1 million barrels of oil per day to growing markets in Asia.

This move is expected to reduce Canada's reliance on the US by 90%, which currently receives 90% of Alberta's oil production. The pipeline project aims to create 140,000 jobs and generate over $20 billion in GDP per year, with government revenue expected to reach $100 billion by 2060.

The Canadian government has also committed to providing Indigenous communities with a minimum of 10% ownership interest in the pipeline, financed through loan guarantee programs. This move is seen as part of Canada's broader mission to double its non-US exports over the next decade.