I'm going to take this opportunity to move a motion that I wanted to move last Monday. I'll read it quickly and explain the rationale.
That, given the Parliamentary Budget Officer's statements in the Transmountain Pipeline System Report 2024 released on November 8, 2024, the Committee expresses concern about the financial uncertainty regarding the government's ability to sell the Transmountain Pipeline System at a price that avoids a net loss to taxpayers and asks the Chair to report to the House as soon as possible.
Let me explain, Mr. Chair. The Parliamentary Budget Officer came to talk about his 2022 report. At the time, the government had allocated $21.4 billion for the pipeline. That has now risen to $34 billion. The Parliamentary Budget Officer's testimony was unequivocal. The federal government is heading for a loss. The unrecoverable amount is nearly $4 billion. As parliamentarians, I think it is our duty to discuss this issue. I would like it to be reported to the House.
My colleague, Ms. Dabrusin, whom I sincerely respect, told the Parliamentary Budget Officer that it is not his job to share political considerations. I completely agree with her. It is, in fact, my job to share political considerations. The Canadian government, and therefore indirectly the Quebec government, is likely to lose $4 billion. In addition, with the Trans Mountain pipeline in operation, we don't know if we'll be able to meet our GHG reduction targets. I sincerely believe that Parliament has a duty to ask itself this question and try to shed light on the situation. How can we say this infrastructure will be profitable over a 40-year period when we know very well that new technologies are emerging to solve our energy problem and the climate change crisis? I think we have sufficient justification to bring this matter to the House.
At that point, it will be up to each individual and their conscience to give Canadians a status update on the situation. I realize that my Conservative friends may not see things the same way I do, but it's up to them to present their vision. Similarly, it will be up to the government to defend what I believe is a flawed decision to buy a pipeline and assume the risk for the oil sector, when we know full well that this economic sector is raking in record profits.
For all these reasons, I think we need to debate this in the House. The Parliamentary Budget Officer presented his report to the House. It would be entirely appropriate for us to have this discussion in the public eye in the proper forum, which is the House of Commons.
Thank you, Mr. Chair.