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Carney Funds 100% Coast Pipeline, Rejects Paris Targets

7/8/2026

Summary

Story summary

Prime Minister Mark Carney announced the government will fund 100 % of a Coast oil pipeline at $35 billion to $43 billion.
Carney called Paris climate targets unsustainable and reversed his pledge to meet them.
Pembina Pipeline offered only a 10 % stake, demanding guaranteed profits and no liability for overruns.
Alberta estimates $320 billion in clean-up costs and says the Trans Mountain Expansion pipeline cost nearly six times its original estimate, raising price doubts.

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Story summary

Prime Minister Mark Carney announced the government will fund 100 % of a Coast oil pipeline at $35 billion to $43 billion.
Carney called Paris climate targets unsustainable and reversed his pledge to meet them.
Pembina Pipeline offered only a 10 % stake, demanding guaranteed profits and no liability for overruns.
Alberta estimates $320 billion in clean-up costs and says the Trans Mountain Expansion pipeline cost nearly six times its original estimate, raising price doubts.