Carney to visit Calgary on Friday to announce industrial carbon pricing deal, sources say
Carney to visit Calgary on Friday to announce industrial carbon pricing deal, sources say
By Amanda StephensonWed, May 13, 2026 at 5:42 PM UTC
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Canada's Prime Minister Mark Carney in Oakville, Ontario, Canada April 30, 2026. REUTERS/Carlos Osorio
By Amanda Stephenson
CALGARY, May 13 (Reuters) - Canadian Prime Minister Mark Carney will visit Calgary on Friday to announce the details of a new deal with Alberta on industrial carbon pricing, a provincial government source and an industry source with knowledge of the plan told Reuters on Wednesday.
The Globe and Mail first reported that Canada and its main oil-producing province of Alberta are on the cusp of a deal that will increase the effective credit cost in the province's industrial carbon market to C$130 a metric ton by 2040.
Alberta froze its headline industrial carbon price in May of last year, and credits in its market currently trade between C$20 and C$40 a metric ton — too low to incentivize polluters to invest in emissions reduction technology, according to experts.
The sources, who were not authorized to disclose the plans, told Reuters that Carney will visit the oil-and-gas city for the first time since November, when he and Alberta Premier Danielle Smith agreed to work together to boost investment in energy production.
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They said he will announce the new industrial carbon pricing plan, which is aimed at strengthening Alberta's pollution pricing regime while also clearing the path for Alberta's plan to propose a new one-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast.
Environmentalists have been keen to see Alberta's effective industrial carbon price reach C$130 by 2030, not 2040, arguing a swifter time frame would incentivize companies to make real, immediate efforts to reduce their emissions.
But Alberta and the oil and gas industry have been lobbying for a later implementation date, arguing a carbon pricing regime that puts Canada's industry at a competitive disadvantage would slow oil sands production growth at a time the country is keen to grow its energy exports and reduce its reliance on the U.S. market.
A spokesperson for the prime minister's office would not confirm the visit.
(Reporting by Amanda Stephenson in Calgary; Editing by Aurora Ellis)
Source: “AOL Breaking”
