OTTAWA — “Grand bargain” was the phrase of the day on Parliament Hill after Prime Minister Mark Carney and his provincial counterparts found common ground on oil and gas development.

“If (the Conservatives) were listening to yesterday, there is a grand bargain,” Energy Minister Tim Hodgson boasted to the Opposition benches.

“There is a bargain that the premier of Alberta has signed onto.”

Alberta Premier Danielle Smith left Monday’s first ministers’ meeting with a new deal exchanging oil sands access to coastal waters for massive investments in decarbonization technologies, but experts warn this could be a costly pipe dream.

“I’m worried we’re seeing (the first ministers) fall into a trap of wanting to have their cake and eat it too,” said Tim McMillan, a partner at Garrison Strategy

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