Prime Minister Mark Carney and Alberta Premier Danielle Smith have agreed to the broad terms of a deal that would support a new oil pipeline to Canada’s west coast, the CBC reported Monday.

Currently, Canada has rules which Smith and industry observers say deter investors from committing to a new conduit to ferry Alberta’s oil to the coast of British Columbia, and then to Asian markets. The most obvious legal block is a ban on tankers carrying oil off the northern B.C. coast.

The federal and provincial leaders are set to announce a milestone deal granting special exemptions and “political support” to a new pipeline at a press conference in Calgary, Alta., on Thursday, the report said, citing anonymous sources. Carve-outs would be contingent on commitments to stricter carbon pricing and a

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