By Amanda Stephenson<\/p>\n
CALGARY, May 13 (Reuters) – Canadian Prime Minister Mark Carney will visit Calgary on Friday to announce the details of a new \u200cdeal with Alberta on industrial carbon pricing, a provincial government source \u200cand an industry source with knowledge of the plan told Reuters on Wednesday.<\/p>\n
The Globe and Mail first \u200breported 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.<\/p>\n
Alberta froze its headline industrial carbon \u200cprice in May of last \u2060year, and credits in its market currently trade between C$20 and C$40 a metric ton \u2014 too low to incentivize polluters to \u2060invest in emissions reduction technology, according to experts.<\/p>\n
The sources, who were not authorized to disclose the plans, told Reuters that Carney will visit the oil-and-gas city for the \u200bfirst time \u200bsince November, when he and Alberta Premier \u200bDanielle Smith agreed to work together \u200cto boost investment in energy production.<\/p>\n
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.<\/p>\n
Environmentalists have been keen to see Alberta’s effective industrial \u200ccarbon price reach C$130 by 2030, not \u200b2040, arguing a swifter time frame would incentivize \u200bcompanies to make real, immediate efforts \u200bto reduce their emissions.<\/p>\n
But Alberta and the oil and gas \u200cindustry have been lobbying for a \u200blater implementation date, arguing \u200ba carbon pricing regime that puts Canada’s industry at a competitive disadvantage would slow oil sands production growth at a time the country is \u200bkeen to grow its \u200cenergy exports and reduce its reliance on the U.S. market.<\/p>\n
A spokesperson for \u200bthe prime minister’s office would not confirm the visit.<\/p>\n
(Reporting by Amanda \u200bStephenson in Calgary; Editing by Aurora Ellis)<\/p>\n","protected":false},"excerpt":{"rendered":"By Amanda Stephenson CALGARY, May 13 (Reuters) – Canadian Prime Minister Mark Carney will visit Calgary on Friday…\n","protected":false},"author":2,"featured_media":667262,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194293],"tags":[901,53104,49,2798,48,16823,91436,246075,2659],"class_list":["post-667261","post","type-post","status-publish","format-standard","has-post-thumbnail","category-calgary","tag-alberta","tag-alberta-premier","tag-ca","tag-calgary","tag-canada","tag-carbon-price","tag-carbon-pricing","tag-effective-industrial","tag-mark-carney"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/667261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=667261"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/667261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/667262"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=667261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=667261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=667261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}