Canada takes key step towards new oil pipeline to serve Asia markets

AI Summary

Canada is moving forward with plans to construct a new oil pipeline aimed at boosting crude exports to Asia, a bid to enhance its economic independence from the US. However, the initiative faces significant environmental opposition.

Prime Minister Mark Carney and the leader of Canada’s oil-rich Alberta province took a major step on Friday towards building an oil pipeline that could substantially increase crude exports to Asia. Expanding overseas energy exports has emerged as a key part of Carney’s strategy to reduce Canada’s economic reliance on the US, but plans for a new pipeline are facing stiff resistance over environmental concerns. Alberta’s conservative Premier Danielle Smith was a relentless critic of Carney’s...