While we Americans were carving up our turkeys last week, the Canadians had a political breakthrough. The Prime Minister and the Alberta Premier made a compromise to advance a new pipeline route for Alberta’s heavy crude.
This pipeline would extend through northern British Columbia, requiring the repeal of federal bans on pipelines and tanker loadings in the region. In return, Alberta will adopt a national carbon-pricing framework. This marks a dramatic shift following Trudeau’s 15 years of hostile relations.
Carney’s restoration of a political middle seems more feasible following this compromise. While there is still plenty of uncertainty about what this next chapter looks like, I’m cautiously optimistic.
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