Evidence of meeting #109 for Natural Resources in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was tmx.
A video is available from Parliament.
President and Chief Executive Officer, Cenovus Energy Inc.
I'm going to come to that, Mr. Singh.
I think that we have employees inside Cenovus who have been directly affected by the forest fires we had here in western Canada in 2023 and 2024, and we know first-hand how these tragedies affect people.
NDP
Jagmeet Singh NDP Burnaby South, BC
Sir, do you think your industry shares responsibility for what's going on? That's the question.
President and Chief Executive Officer, Cenovus Energy Inc.
I think what it does, Mr. Singh, is highlight the complexity of the issue. I'm not a forester, and I know nothing about hurricanes. I don't know if CO2 caused these fires.
NDP
Jagmeet Singh NDP Burnaby South, BC
You're denying that fossil fuels being burned has anything to do with climate change. Is that what you're suggesting?
President and Chief Executive Officer, Cenovus Energy Inc.
I'm suggesting to you that I don't know, and I'm suggesting to you that very few people know. What I am suggesting is that it highlights the complexity of the issue and that we need to do something about CO2.
NDP
Jagmeet Singh NDP Burnaby South, BC
Sir, just wait a moment here, sir. No one is denying the complexity. I'm asking if you share responsibility as a fossil fuel-burning company in the reality of the climate crisis we're in. Do you share responsibility in that? There are many answers, but you're completely deflecting and saying that it's complex. Obviously, climate change is complex, but you're a fossil fuel-burning company.
Do you share responsibility for the climate crisis that's going on?
Conservative
Shannon Stubbs Conservative Lakeland, AB
On a point of order, he's also an Albertan who employs Albertans and you're asking about Alberta. You're not either of those things.
Liberal
The Chair Liberal George Chahal
Mrs. Stubbs says it's a point of order, but I'll remind colleagues again—I have your time on hold, Mr. Singh—to please not use points of order for debate. They're for points of order. If you have a point of order that you have a concern about, and you want to reference what that point of order is related to the Standing Orders, please do so.
I'm going to go back to you, Mr. Singh. You can continue with your questioning.
Jagmeet Singh NDP Burnaby South, BC
Thank you.
It's clear that you're denying the impact of the climate crisis and the fact that burning fossil fuel contributes to that. That's deeply troubling.
I want to also point out something that's very interesting, and I want to hear your thoughts on this. Oil and gas companies like yours raked in $37 billion in profits last year, and a whopping $64 billion in profits in 2022. On top of that, Justin Trudeau is handing you $12 billion in money for carbon capture projects. On top of that, he bought your industry a pipeline. A pipeline, mind you, that will cost every Canadian household $1,200, yet you still come cap in hand, you and your industry, asking for more government handouts.
Let me get this straight: You're burning the planet. Do you expect us to pay you to do it?
President and Chief Executive Officer, Cenovus Energy Inc.
Mr. Singh, I reject the entire premise of your question.
NDP
Jagmeet Singh NDP Burnaby South, BC
Wait. Do you reject the money that you've been given? Do you reject the billions of dollars in profits you've made? That's a ridiculous thing to say. Obviously you've made these billions of dollars of profit. Obviously, you're receiving billions of dollars of handouts from the government. On top of that, you're asking for more. What is there to reject in that?
That is a ridiculous thing for you to say, sir.
President and Chief Executive Officer, Cenovus Energy Inc.
Mr. Singh, we paid $48 billion to all levels of government in 2022. Yes, we did make profits, but almost 50% of that went back into government coffers.
NDP
Jagmeet Singh NDP Burnaby South, BC
You received billions of dollars of public money as well. That's a fact as well. Your industry receives—
President and Chief Executive Officer, Cenovus Energy Inc.
I'm not sure which billions of dollars you're talking about that we received.
President and Chief Executive Officer, Cenovus Energy Inc.
The national report that we publish every year sits on our website. It shows exactly how much government money we've received and exactly how much government money we've paid. If you look at that, you'll find that we paid well in excess of anything that we received directly. In fact, that amount is de minimis. I'd also suggest to you that the TMX pipeline was built for Canada and Canadians, and the benefits—
NDP
Jagmeet Singh NDP Burnaby South, BC
It's built for the oil industry. It's built for your sector, for your industry. There's $1,200 per Canadian family to subsidize your sector on top of the billions of dollars you're receiving, and you're still asking for more money. You're literally asking Canadians to pay you to burn the planet.
President and Chief Executive Officer, Cenovus Energy Inc.
We are asking for nothing from the Canadian government.
Liberal
The Chair Liberal George Chahal
Mr. McKenzie, I'll ask you to hold on your answer.
We have a point of order from Mr. Falk.
Please, Mr. Falk, it's point of order, not debate. Go ahead.
Conservative
Ted Falk Conservative Provencher, MB
No, it's a point of order, because I think Mr. Singh is financially challenged. I don't think he understands income and expense statements.
Liberal
The Chair Liberal George Chahal
That's not a point of order, Mr. Falk. I'm going to cut you off. That's not a point of order. You're engaging in debate with a member here and directly targeting him.
You can do that on your time. If you choose to during your time, ask questions of the witnesses and direct them towards them, not towards other members.
Mr. Singh, your time is on hold. I'm going to turn the floor back to you, and you have about 45 seconds.
NDP
Jagmeet Singh NDP Burnaby South, BC
Mr. McKenzie, Canadians are making sacrifices right now. They're making sacrifices like fewer groceries in their carts, but you sure as hell don't have to make those sacrifices. Your CEO pay in your sector is up as much as 75%.
Liberal
The Chair Liberal George Chahal
Mr. Singh, I'm going to ask you to hold on again. We have another point of order.
Go ahead, Mr. Falk, on a point of order.
Conservative
Ted Falk Conservative Provencher, MB
On a point of order, the Speaker of the House recently called a member in the chamber “out of order” for using the kind of language Mr. Singh just used in committee. I'd like him to withdraw that.
