Carney says Arctic oil fund is not a decision to lift drilling ban
Briefing by News4U · First published
Today Canadian Prime Minister Mark Carney said that $11 million earmarked in Budget 2026 for Arctic oil and gas governance is "absolutely not in any way, shape or form a decision about lifting the moratorium" on offshore drilling in the Arctic. He said the federal government is working with northern governments and the Inuvialuit on whether to keep the ban, which he said remains in place, and called the process "a respectful engagement" that also respects the environment. CBC News reports the budget provides the $11 million over four years as capacity funding for co-managed Arctic offshore oil and gas governance. [1]