Canada Fast Tracks Pipeline Plan to Diversify Economy Away from US

Canada plans to accelerate the approval process for the Pacific Link pipeline, a crucial step in diversifying its economy away from the United States. Prime Minister Mark Carney said Ottawa will expedite the project's regulatory review, aiming to complete it by September 1, 2027.

The pipeline is expected to generate over C$20-billion ($14-billion) in GDP per year and create 140,000 jobs. It will also help Canada lessen its dependence on US markets, which currently account for more than 90% of its crude oil exports.

Carney emphasized that the pipeline is essential to achieving his vision of transforming Canada's economy and making it a global energy superpower. He noted that the project would unlock Canada's full potential as an exporter and help reduce the impact of US President Donald Trump's tariffs.