Canada will likely designate new oil pipeline nationally important

Prime Minister Mark Carney stated a new oil pipeline proposal to British Columbia is highly likely to be designated a project of national importance. This designation would expedite its approval process. Carney emphasized the economic opportunity and existing resources as key factors. He indicated the government prefers a private sector proposal, and also supported a carbon capture system for Alberta's oil sands to be included. This announcement follows a bill passed by the Senate to fast-track resource and infrastructure projects. Canada, a major oil exporter, seeks to diversify its economy away from reliance on the United States.