Likely new oil pipeline proposed for Canada's West Coast to meet growing demand.

Prime Minister Mark Carney believes a new oil pipeline to Canada’s West Coast is likely to be proposed as a nation-building project, emphasizing private sector involvement over government intervention. This comes after the passage of Bill C-5, aimed at expediting approval for key developments and promoting internal trade. Carney also supports a C$16.5 billion carbon capture system for Alberta’s oil sands as part of a potential grand bargain for the energy sector.

Alberta Premier Danielle Smith and industry groups are advocating for a new pipeline capable of transporting up to 1 million barrels per day to a northern British Columbia port to meet growing global demand for Canadian heavy crude. With existing pipelines expected to reach full capacity before the end of the decade, the need for additional infrastructure is becoming increasingly urgent.

Read more at Yahoo Finance: Carney says new oil pipeline proposal ‘highly likely’ in Canada