Canada Rolls Back Climate Rules To Boost Investments

Canada's Prime Minister Mark Carney has signed an agreement with Alberta's premier that will roll back certain climate rules to spur investment in energy production, while encouraging construction of a new oil pipeline to the West Coast. From a report: Under the agreement, which was signed on Thursday, the federal government will scrap a planned emissions cap on the oil and gas sector and drop rules on clean electricity in exchange for a commitment by Canada's top oil-producing province to strengthen industrial carbon pricing and support a carbon capture-and-storage project.

The deal, which was hailed by the country's oil industry but panned by environmentalists, signaled a shift in Canada's energy policy in favour of fossil fuel development and is already creating tensions within Carney's minority government. Steven Guilbeault, who served as environment minister under Carney's predecessor Justin Trudeau, said he was quitting the cabinet over concerns that Canada's climate plan was being dismantled.

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