Canadian energy producers say they are prepared and ready for what could be another spring and summer of drought and wildfires in Western Canada.

RBC Capital Markets said Friday it expects Pembina Pipeline Corp. and its partner, the Haisla Nation of B.C., to green light the project with a final investment decision soon.

Saskatchewan had forecast a more than $1 billion surplus for the fiscal year ending March 31, 2024, but fresh budget documents released last month show that surplus has completely evaporated, leaving it with an approximate $482 million deficit for the year instead.

The report notes Alberta's government has already set up a drought advisory panel to begin water usage negotiations, while B.C. Premier David Eby has called his province's situation "the most dramatic drought conditions that we've seen."

Trudeau was responding to Newfoundland and Labrador Premier Andrew Furey's call for an "emergency meeting of leaders," just the latest of several last-ditch provincial efforts to forestall a higher fuel levy. 

The Calgary Chamber of Commerce made the argument Wednesday in an open letter urging the federal government to reconsider proceeding with the promised cap, which the government has said it intends to finalize in mid-2024.

A consortium of Canada's largest oilsands companies will submit an application before the end of the week for approval of its proposed $16.5-billion carbon capture pipeline project.

"The stakes are high: billions of dollars at issue, with Trans Mountain's (costs) having more than quintupled since 2017 — and its costs are still growing by billions, seemingly unchecked," the oil companies stated in a motion filed with the Canada Energy Regulator earlier this week.

Suncor said it is in the process of conducting early-stage technical and commercial feasibility assessments to determine the quality and quantity of mineable bitumen ore in the area, which is located within the Regional Municipality of Wood Buffalo in northern Alberta and on the Fort McKay First Nation's traditional territory.

A seven-month pause on wind and solar development in Alberta is coming to an end, but some involved in the sector say increased politicization threatens its future growth.