Ending the special CO2 cap for oil and gas is a good thing but the rest of the deal leaves most federal barriers to investment in place

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Days after Nicolás Maduro’s ouster as president of Venezuela, the Trump administration met with oil company executives to encourage investment that would bring that country’s oil production back online. In response, Prime Minister Mark Carney pointed to the federal government’s recent deal with Alberta (the “Memorandum of Understanding” or MOU) as a safeguard for Canada’s energy competitiveness.

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But the MOU does not remove all the barriers blocking Canada’s energy sector — far from it — and in fact, being long on promises yet short on concrete commitments, adds new sources of uncertainty.

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