Carney Pitches Oil Pipeline as Response to US-Canada Trade War
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Mark Carney has announced Canada will fast-track approval of a 1,250km (775 mile) oil pipeline project to the Pacific coast. The Canadian prime minister frames the Pacific Link project as crucial for national interests, diversifying Canada's oil markets beyond the US.
"A pipeline to the west coast is part of our mission to transform our economy, to double our non-US exports over the next decade," said Carney.
He projects the initiative will boost Canada's GDP by up to C$30bn ($21bn; £16bn) annually and create 140,000 jobs. Carney argues that Canada's economic reliance on the US has become a vulnerability given US President Donald Trump's protectionist tariffs.
Last year, 90% of Canada's crude oil exports went to the US. Pacific Link would transport approximately one million barrels per day of crude oil from Bruderheim, Alberta, to Delta, British Columbia, via marine berths capable of accommodating vessels carrying up to two million barrels.
Ottawa believes this project will reduce Canada's dependency on the US to around 65-70%, opening markets in Asia-Pacific regions like South Korea, China, and Japan.
Pacific Link is the first project to be fast-tracked under a new law implemented last year by the Liberal government, aiming for final approval or rejection within a year.
Carney noted that the pipeline could help appease Alberta, which argues it's been hindered from developing its resources and will vote on independence later this month. However, the project faces opposition from environmental groups concerned about marine health and indigenous communities along the route.