Canada announces Pacific Link pipeline as rail costs rise

The Canadian government has announced the Pacific Link pipeline, a million-barrel-per-day project connecting Alberta to a tanker export terminal in southern British Columbia. Designated as being in the national interest, the proposal will undergo a streamlined review process led by the Calgary-based major projects office. Prime Minister Mark Carney described the anticipated impact on the Alberta oilsands as “sustained growth” rather than a boom, aiming to avoid the inflation and labor shortages seen in previous decades.

Simultaneously, the Parliamentary Budget Office (PBO) released updated cost estimates for a proposed high-speed rail line linking Toronto and Quebec City. The PBO report suggests the project's cost could range between $75 billion and $113 billion, significantly higher than previous government estimates of $60 billion to $90 billion. This estimate does not include operating costs or potential additions such as a tunnel under Montreal.