Canada and Alberta have reached a carbon pricing deal that would pave the way for construction of a new oil pipeline starting as early as 2027, while scaling back a carbon capture project that Ottawa tied to the plan.
China called for a rapid reopening of the Strait of Hormuz, a goal it shares with the US, though there was no sign of a breakthrough between the superpowers on how to achieve that after President Donald Trump’s trip to Beijing.
As the leaders of the world’s two largest economies meet in Beijing, energy markets will be watching closely for any breakthrough in a dispute that has reshaped global fuel flows: China’s tariffs on US oil and gas.
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