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The policies are discouraging oil producers from expanding output
Bloomberg News
Building a new oil pipeline from Alberta to the British Columbia coast requires first overturning “nine bad laws” enacted by former Prime Minister Justin Trudeau’s government, said Alberta Premier Danielle Smith.
The policies, including a cap on oil and gas emissions and a ban on oil tankers off the northern B.C. coast, are discouraging oil producers from expanding output — a prerequisite to building new pipelines, Smith told reporters in Edmonton.
“We need to address the nine bad laws that are impacting the investment climate,” she said. “That’s how pipelines get built.”
Smith has been advocating for the construction of a new oil pipeline running from Alberta to Prince Rupert, on the B.C. coast. In June, she said she expected a private-sector proposal for a new line to emerge within weeks. Canada’s new Prime Minister Mark Carney said earlier this month his government is exploring regulatory changes that would allow such a project if it’s “in the national interest.”
Smith said a new pipeline could be accompanied by carbon capture in the oil sands in a “grand bargain.” The federal government has proposed a 50 per cent tax credit for carbon capture and Alberta would add a 12 per cent subsidy. The province expects to spend $3 billion to $5 billion in subsidies to support carbon capture in the next decade, Smith said.
Yet Enbridge Inc., operator of the largest oil export pipeline network in Canada, has said its priority is to expand pipelines to the U.S. before considering any new pipelines going west.
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