"Canadian Prime Minister Mark Carney and the premier of Canada's oil rich province of Alberta agreed Thursday to work toward building a pipeline to the Pacific Coast to diversify the country's oil exports beyond the United States. The memorandum of understanding includes an adjustment of an oil tanker ban off parts of the British Columbia coast if a pipeline comes to fruition. Carney has set a goal for Canada to double its non-U.S. exports in the next decade."
"Alberta Premier Danielle Smith said the agreement will lead to more than 1 million barrels per day for mainly Asian markets so "our province and our country are no longer dependent on just one customer to buy our most valuable resource." Carney reiterated that as the U.S. transforms all of its trading relationships, many of Canada's strengths - based on those close ties to America - have become its vulnerabilities."
Prime Minister Mark Carney and Alberta Premier Danielle Smith agreed to advance a Pacific Coast pipeline to reduce reliance on the United States for oil exports. The memorandum of understanding would allow adjustment of a tanker ban off parts of British Columbia if the pipeline is built. The effort aims to open more than one million barrels per day to Asian markets and help double non-U.S. exports over the next decade amid concerns that U.S. trade shifts and tariffs are chilling investment. The framework is an initial step, requires a private-sector proponent, and calls for engagement with British Columbia amid local opposition; past federal intervention was required to complete a controversial pipeline approved in 2016 while another project was rejected.
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