The Governments of Canada and Alberta have signed a new agreement to more than double oil exports to Asian markets, address investment uncertainty, and reduce emissions.
Key Messages:
· Today is truly a great day for Albertans.
· Premier Danielle Smith and Prime Minister Mark Carney have reached a landmark agreement to secure long-term economic security and work towards turning our country into a world energy superpower.
· As everyone knows, over the last 10 years there’s been a number of policies that have hurt Alberta’s economy and hurt Albertans, we’ve called them the 9 bad laws.
· We are thankful the federal government has been responsive to our concerns and has worked with us to address them – especially the oil and gas production cap and the net-zero power regulations.
- The elimination of those two policies alone will add billions to our economy and add tens of thousands of jobs for Albertans.
· Now we can move ahead and focus on growing our economy, increasing production, building critical nation building projects.
- The agreement we’ve signing is a roadmap to do just that.
· With an Indigenous co-owned Alberta bitumen pipeline to Asian markets as a project of national interest in addition to the Trans Mountain expansion, Alberta is now positioned to reach its goal to increase oil production to six million barrels per day by 2030 and eight million by 2035.
· This is just a first step. We know there is more work to do to make Alberta and Canada an energy superpower to provide sustainable energy to the world.
Key Facts:
· The agreement will
- Increase the production and export of responsibly produced Alberta oil and gas
- Maximize growth in AI data centres
- Advance national and continental security goals
- Create thousands of new jobs
- Reduce emissions from heavy oil and electricity through CCUS, nuclear, and other clean technologies.
· The agreement restores investor confidence, reduces regulatory uncertainty, and strengthens our energy sector’s competitiveness.
· The project will mark a historic step forward in Indigenous economic participation, through ownership, prosperity, and partnership.
· The federal government declared an Indigenous co-owned Alberta bitumen pipeline to Asian markets a project of national interest.
o The pipeline comes in addition to the Trans Mountain expansion (300,000–400,000 extra barrels/day).
o Alberta is now positioned to reach its goal to increase oil production to six million barrels per day by 2030 and eight million by 2035.
· Canada and Alberta will facilitate the application, approval, and construction of a privately financed 1 million+ barrel per day Indigenous co-owned bitumen pipeline to Asian markets via a deep-water port.
· The federal government will not implement the federal oil and gas emissions cap.
· The federal Clean Electricity Regulations will be eliminated in Alberta, pending a new industrial carbon pricing agreement, to be administered through Alberta’s TIER program, which will enable the construction of thousands of megawatts of AI computing power.
· Canada and Alberta will partner with Pathways companies to finance and build the world’s largest carbon capture and storage system (CCUS) to lower emissions from Alberta’s bitumen. (Premier’s Office/Stakeholder Relations and Community Outreach)
Pinoy Edmonton News 