Alberta seeks to 'de-risk' oil, gas pipeline investments in wake of Trump victory

Alberta Premier Danielle Smith says her government is looking for ways to encourage pipeline companies to boost capacity and increase Alberta's oil and gas export volumes to the U.S.

Alberta Premier Danielle Smith says her government is looking for ways to encourage pipeline companies to boost capacity and increase Alberta's oil and gas export volumes to the U.S.

But Smith says her government is not interested in directly subsidizing a cross-border pipeline project, preferring instead to find ways to "de-risk" a potential private sector investment.

Canada's main oil-and-gas producing province is keen to expand its pipeline access to the U.S. in the wake of Donald Trump's presidential election victory.

In his first presidential term, Trump supported TC Energy Corp.'s Keystone XL pipeline project, which would have carried oil from Alberta to the U.S. but was scuttled when President Joe Biden revoked its permit on environmental grounds.

TC Energy is no longer the owner of the Keystone pipeline network, having spun it off into a separate company called South Bow Corp., but some industry watchers have questioned whether the project could be revived.

Smith says there are many ways to boost Alberta's oil and gas exports to the U.S., including expanding the capacity of existing pipelines.

This report by The Canadian Press was first published Nov. 25, 2024.