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Prime Minister Mark Carney held a press conference to announce a new pipeline agreement between the federal government, Alberta, British Columbia, and several other partners, framing it as a breakthrough for the energy sector.

Carney told reporters the deal represents "a new approach that helps us reach our full potential," pointing to partnerships with Indigenous communities, the provinces, and the private sector. Carney further announced the launch of the Pathways Project, a large-scale carbon capture initiative he said would cut emissions by 16 million tonnes annually.

On Friday's Rebel Roundtable livestream, Sheila Gunn Reid and Drea Humphrey were joined by Ezra Levant to react to the announcement, with Ezra approaching the deal with the opposite of Carney's bravado. 

Ezra argued that the carbon capture requirements and emissions conditions attached to the pipeline will significantly drive up prices, estimating the price tag at "$10 to $20 per barrel" on top of construction costs. 

"It's just going to make it uneconomic," he said. 

He contrasted Canada's regulatory demands with the global oil market, noting that some of the world's largest — and most shady — producers, like Russia and Iran, face no such conditions.

"Why has Russia been... so strong during its Ukraine war? Cause it's selling everything it wants to to India and China," said Ezra. "No one else in the world puts these burdens on oil companies." 

Sheila questioned why the federal and Alberta governments are even involved in the project at all.

"We're not supposed to be building oil and gas projects in partnership with the Alberta government and the federal government," she said. "I can't believe our free enterprise free market premier is standing in the background nodding her head like she didn't build a career fighting this stuff."