Canada is now poised to become a major force in the world oil market. Prime Minister Mark Carney has given the green light to a major project to transport the country’s crude oil around the world. The name of this project is Pacific Link Pipeline. Through it, 10 lakh barrels of crude oil will be delivered to the Pacific coast every day. Until now, Canada was completely dependent on the US for its crude oil exports. But now through this new pipeline oil will be sent directly to the big markets in Asia. The government has termed this project as a national interest. Now Canada wants to reorient its economy through oil trade.

America’s dominance in the oil market will end

Today, about 90 percent of the oil from Canada’s Alberta province is sold to the United States alone. The government considers this to be the biggest weakness of the oil business. After the opening of the Pacific Link Pipeline, dependence on America for oil will be reduced to 65 to 70 percent. US President Donald Trump’s trade policies have upset Canada a lot. For this reason, PM Carney wants to break out of America’s economic clutches and sell his oil to Asia. The new pipeline will be laid from Bruderheim in Alberta to Delta Port in British Columbia. Its total length will be 1250 km.

Alberta’s oil industry will get a new lease of life

This whole news is not only about selling oil, but also related to the politics of the country. Canada’s province of Alberta is the largest crude oil hub. People here have been complaining for a long time that the government is not allowing their oil industry to go ahead. Because of this anger, the people of Alberta are demanding to secede from Canada. For this, a referendum is also going to be held on October 19. Alberta Premier Daniel Smith says that the old government did a lot of damage to the oil business. Now, through this new pipeline, the government wants to deliver Alberta’s oil to foreign markets, so that the oil industry there can flourish and save the country from collapse.

A lot of big challenges before heavy investment

The project to transport crude oil to sea will cost between 25 and 31 billion dollars. The federal government is initially investing $2.8 billion. Private companies like Pembina Pipeline Corp will also invest money in this. The government claims that common people who pay taxes will also benefit greatly from this oil pipeline.

However, laying such a large oil pipeline is not an easy task. Local natives and environmental groups are strongly opposed to it. To overcome the resentment of these natives, the government has offered them 10 percent ownership rights in the project. Apart from this, there is also a danger of increasing pollution due to increase in oil production. If all goes according to plan, this oil pipeline will be fully operational by 2032 or 2033.