Canada Classifies Keystone XL Pipeline Project as a Matter of National Interest

The News

Canadian Prime Minister Marc Carney announced on Thursday that the Western Coast oil pipeline project known as "Pacific Link" has been classified as a national interest project, as part of Canada's efforts to reduce its dependence on the American market. During a joint press conference with Alberta Premier Danielle Smith in Fort McMurray, Carney confirmed that 90% of Canada's oil exports currently go to the United States. He added that "Pacific Link" will contribute to reducing this reliance by allowing an additional one million barrels per day to be exported to developing Asian markets.

Carney also stated that the project will provide significant economic opportunities for Indigenous communities, where it has been agreed that the implementing companies will provide Indigenous communities with a minimum ownership stake of 10%, funded from Indigenous loan guarantee programs. He noted that the project will create 140,000 jobs across the country and contribute $20 billion annually to the gross domestic product, with projections of achieving revenues of $100 billion for the government by 2060.

According to a statement from the Prime Minister's office, this project is part of the Canadian government's strategy to transform the economy and increase non-American exports by 100% over the next decade. The statement described the project as a "transformative project" that will contribute to infrastructure development and improved social services such as health care, dental care, and childcare.