To the motion, the uncertainty is caused by the Government of Canada and the lack of verbal and legal support, not financial support. The finance committee can be involved because the finance minister was at the table. It was a four-person meeting and he was right there. This does matter because it does affect his ministry. The decisions he will make on the financial implications for the Government of Canada, and what the Government of Canada will do to provide some type of financial support, matters to the committee here. It could be money, direct subsidies, an insurance policy, or an equity stake. We have no way of knowing that. We should find out what the implications are for budgetary matters.
Energy East, Northern Gateway, and Petronas were cancelled. Between Energy East and Northern Gateway, 1.625 million barrels per day of production are not moving through a pipeline. That's royalties, levies, and construction jobs, and that has a huge impact on the Government of Canada's bottom line. Trans Mountain moves 590,000 barrels per day. You are talking about a third of what has already been lost through your decision. Bill C-69 adds to the burden. We're talking about establishing a baseline of what the government can use to say, “This is how much money we've brought into the public coffers, so this is what the Government of Canada can do on the financial side and regulatory side to lessen the burden on the government.”
The last thing I will say is from a constituent. I think he raises a great point. Then, Mr. Chair, I'll turn it over to you if there are no other speakers. I will also ask for a recorded vote.
Darren Engels from my riding says:
When I finished university, I made the choice to move to Calgary, where I was told that the city was a built on a can-do attitude of hard-working people. My kind of place. I secured a career at a boutique investment bank that focused exclusively on the energy industry. I made it! My hard work paid off. Unfortunately, I now have a front-row seat of investment capital fleeing our country, due to an overly burdensome environment. Arguably, I cannot blame the investor for having zero confidence in Canada, given the hostile investment environment that has been created by over-reaching regulations and governments, I barely have any confidence in Canada anymore. The fact that Energy East, Northern Gateway, Petronas LNG have been abandoned, and there is real risk that Trans Mountain will be cancelled, should ring alarm bells across the country as the rule of law has been overtaken by the “green mob” that lacks facts but is well funded by foreign dollars.
The most unfortunate aspect of Canada's new reality is that I cannot honestly tell my daughters that if they work hard, good things will happen. Not in Canada, anyways. My next professional question might be: do I stay and fight for my livelihood and city I love, or do I move outside Canada to pursue the next phase of my career and protect the financial well-being of my family.
...
From my perspective, the current governments definitely do not stand up for the oil and gas industry. That is tragic, especially given that the oil and gas industry enabled Canada to survive the world-wide recession of 2008 and has employed thousands of people across the country, and provided millions upon millions of dollars to support our high-standard of living. Please, we need you to act.
Make me a proud Canadian again.