Carney, Smith back Pacific Link pipeline as 90% of Alberta oil goes to US; Asia exports to rise
Prime Minister Mark Carney says the new Pacific Link oil pipeline will “materially reduce” Canada’s dependence on the United States. Today, 90% of Alberta’s oil goes to the US. Pacific Link would carry an additional 1 million barrels a day to growing markets in Asia, giving Canadian producers more customers and higher prices.
Carney and Alberta Premier Danielle Smith announced in Fort McMurray that the federal government is listing the West Coast pipeline as a project of national interest under the Building Canada Act. Carney tied the project to a goal of doubling Canada’s non-US exports over the next decade, and pitched Canada to investors, saying the tax rate on new investment is less than half that of the United States.
#PacificLink #Pipeline #MarkCarney #Carney #CanadaUS #CanadaTrade #DanielleSmith #Alberta #FortMcMurray #OilSands #BuildingCanadaAct #Canada #EnergySuperpower #PressConference #BreakingNews
