Carney, Smith say new West Coast pipeline could get oil companies building again
Canadian Prime Minister Mark Carney has designated the Pacific Link pipeline as a project of national interest to fast-track its approval. The government and industry leaders hope this will encourage oilsands companies to resume large-scale infrastructure investment.
Why it matters
This signals a potential shift in Canadian energy policy, balancing economic growth with the challenges of large-scale resource development.
Prime Minister Mark Carney was in Fort McMurray, Alta., this week to announce the first proposal to be deemed in the national interest under legislation passed last year: the million-barrel-per-day Pacific Link pipeline from Alberta to a tanker export terminal in southern B.C.
The designation means the proposal will be subject to a streamlined review process, shepherded by the Calgary-based major projects office.
The pipeline's economic fate hinges on oilsands companies being willing to spend on expanding their output. At a news conference, Carney was asked whether he expected a return to boom times in the northeastern Alberta oilsands hub city.
"I wouldn't use the term 'boom,"' he replied. "I would use 'sustained growth."'
Carney designates West Coast pipeline a project of national interest
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