Smith Open to Incentives for New Oilsands Projects

Alberta Premier Danielle Smith has expressed her willingness to engage in discussions about potential incentives that could stimulate investment in new oilsands projects. This move comes after a historic agreement between the provincial and federal governments on increasing Alberta's industrial carbon price.

The deal, which was reached last week, aims to boost Alberta's oil production by doubling it to eight million barrels per day (bpd) by 2035. To achieve this target, a new pipeline is being proposed to transport oil to the West Coast for export to Asian markets.

However, industry representatives have expressed concerns that the increased carbon price could make the sector less competitive and deter investment. They are pushing for an improved 'fiscal framework' as part of their negotiations with Ottawa and Alberta.