Varcoe: Alberta premier 'open to conversations' on stimulating investment in new oilsands projects |
It was almost 30 years ago when Jean Chretien’s federal government reached a historic understanding with Ralph Klein’s Alberta government and the Canadian energy industry to ignite a wave of investment in the oilsands.
Will history repeat itself in 2026?
In the wake of last week’s energy agreement between the provincial and federal governments on increasing Alberta’s industrial carbon price, Premier Danielle Smith indicated Thursday she’s willing to talk with industry about finding ways to stimulate investment in new oilsands developments — projects that could help fill a new bitumen pipeline to the British Columbia coast.
The Oil Sands Alliance, a group of five large producers, would like to see an improved “fiscal framework” as the companies contemplate moving ahead with a large carbon capture project. The Pathways development is directly tied to Ottawa approving a new oil pipeline to the West Coast.
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“In this province, we have always had a preferential royalty regime for greenfield (oilsands) development,” Smith told a crowd Thursday at a Calgary Chamber of Commerce breakfast.
“We’re open to having those types of conversations, that if there is some way that we have to stimulate greenfield investment, those are the kind of conversations we are going to be able to have.”
If this was a poker game, the stakes are large and the next few hands will be essential in the coming weeks.
People........