Canada Likely to Approve New Oil Pipeline Project: Carney Interview

Canada Poised to Approve New Oil Pipeline Project

Prime Minister Mark Carney suggests a new oil pipeline to the British Columbia coast is highly probable. It is likely to be included on a list of projects deemed of national importance to the Canadian government.

Private Sector to Lead the Charge

Carney emphasized that the proposal should come from the private sector rather than a top-down approach from the government.

Carbon Capture System Supported

Carney supports a proposed C$16.5 billion carbon capture system for Alberta's oil sands to merit a spot in the list of projects.

Fast-Tracking Approvals

The comments come weeks after Canada's Senate passed a bill to fast-track approval for natural resource and infrastructure projects.

Reducing Dependence on the US

Canada, the world's fourth-largest oil exporter, seeks to wean itself from economic dependence on the United States.