Rory Johnston, an oil markets analyst and author of Commodity Context, joins Grant Sprague, a former Alberta deputy energy minister and energy-sector lawyer. They dive into the recent Alberta-Ottawa MOU, debating its implications for a new pipeline. Topics include the challenges of private financing, the interconnectedness of the pipeline with carbon capture projects, and the potential economic impacts. They also discuss regulatory hurdles, Indigenous consent, and the need for clear commitments to ensure the project's viability, all while highlighting evolving Ottawa-Alberta relations.