OTTAWA — The energy industry will have to bear significant costs to fulfill Alberta’s pipeline and carbon-capture deal with Ottawa, all while oil prices are at a five-year low.
The memorandum of understanding (MOU) between Alberta Premier Danielle Smith and Prime Minister Mark Carney, envisions the construction of one or more “private sector constructed and financed pipelines,” as well as the Pathways carbon-capture project. The combined cost of those projects is likely to be more than $50 billion. They would also only be the first step, as filling the million-barrels-per-day pipeline, along with other proposed pipeline expansions, would require new oilsands facilities costing tens of billions of dollars.
Carney’s Indians will stop any new pipelines.
