Mr. Speaker, I am pleased to have the opportunity to address this matter. It seems to have captured the imagination of Canadians.
In 2005 and 2006, the price of oil increased considerably, mainly because of the high price of crude oil. A recent series of interruptions in supply has made the price climb at the pumps.
We all know that Canadians have been hard hit by the recent spike in the price at the pumps. Obviously, when the price of gas goes up, Canadians are affected. There is no doubt that this has repercussions on the daily lives of Canadians and increases the cost of living, which concerns us all.
In our last budget, we adopted a number of initiatives such as the ecoAuto rebate program, which encourages Canadians to buy highly fuel-efficient vehicles with rebates up to $2000. We in the government are getting things done.
It is not just the price of fuel that influences our energy costs. The way we drive also has an impact. The government has posted on the Internet a number of practical tips on buying, driving and maintaining vehicles. These tips can save Canadians money and fuel and also reduce greenhouse gas emissions. The following are a few examples of some of the tips: drive at the speed limit since driving at 100 km per hour instead of 120 km per hour increases performance by 20%; plan trips, use public transit as much as possible; avoid letting the motor idle for nothing; and keep tires inflated.
Since we are talking about gasoline I will talk about energy, something that is very important to this government. We recognize how important it is that we end our dependency on oil.
Our government recognizes that we must invest in other forms of energy. We have invested $1.5 billion in renewable energy such as wind, biomass and tidal energies.
The development of new technologies is one of the primary areas where we can join forces. Innovative and ground-breaking technologies are the key to Canada's future when it comes to natural resources. The natural resources industry is a high tech industry, and it is Canada's technologies and know-how that have made Canadian business so competitive on the world market. The truth of this can be seen in the resource exploitation technologies that Canada supplies to the rest of the world.
Everything our government does is focused on results. We have invested $230 million on a targeted initiative to do research into technology to clean up our conventional energy. These are tangible things that we believe can make a difference, everything from clean coal technology to emissions-free coal-fired electricity generation to carbon sequestration.
In fact, when price regulation has been imposed in the past, it has actually resulted in higher gasoline prices. We cannot get involved in regulation. As long as we are not facing a national emergency, the Canadian Constitution does not allow the Government of Canada to regulate energy prices. That is a provincial jurisdiction. At present, Prince Edward Island, Newfoundland and Labrador, Quebec, Nova Scotia and New Brunswick have decided to regulate gas prices. Experience has shown, however, that although regulation may stabilize prices and make them less volatile, it does not necessarily lower prices.
The Competition Bureau has the authority and the responsibility to investigate any anti-competitive practice and, if necessary, to take legal action. The Competition Bureau has conducted several major investigations of collusion in the oil industry.