Since coming into office a year ago, our government, as has been noted, has cut taxes by 28¢ per litre, which is helping Canadians deal with this reality. We didn't ask for this war, but we have to deal with it. That includes the 10¢ cut in fuel excise taxes, which took effect this past Monday.
Canada's role right now is to bring relief for the energy supply shocks that we're all currently experiencing as a result of the conflict in the Middle East. We're supporting the International Energy Agency's largest-ever oil stock release by producing 23.6 million additional barrels of crude oil through both incremental production and delays of turnarounds at Canadian facilities.
This demonstrates the importance of the investment in energy infrastructure that has been made. For instance, the expansion of the TMX project has meant that Canada has increased oil exports through this pipeline by 100% relative to 2024 levels. The Trans Mountain pipeline has proposed a further 10% increase in capacity through a series of three optimization projects. Construction is expected to begin this August, and that project could be operational by as early as January 2027.