Thank you. That should be sufficient.
Thank you, colleagues, for allowing me to continue to comment so that I can really make the case to you as to why I hope you will support our motion to report this to the House of Commons.
I would also mention the most recent comments reportedly made by a Canadian CEO who is the head of Canada's biggest oil producer, Cenovus. He made the point recently, and it should seize all Canadians that he said, “Investment has left Canada for other jurisdictions. The jobs that come with investment, together with the taxes and royalties, were never realized. Foreign investors and producers have left and taken with them the benefits they bring. Yet through this, the world has not demanded one less barrel of oil, not one less Mcf [thousand cubic feet] of natural gas. The world just gets it from different jurisdictions like the U.S., Russia, and the Middle East”, as Conservatives have been saying for 11 years and before that.
He also reportedly said, “What is missing and unclear in the MOU is the commitment to regulatory reform that would allow industry to grow production to offset the costs of the carbon capture project and fill the million barrel per day pipeline to the West Coast.” An additional point was, “The carbon tax escalates through time, making our industry less resilient at lower commodity prices, and will require the premature shut-in and reclamation of oil producing projects that would otherwise be economic to produce.” Finally, “Without a competitive investment regime coordinated by the federal government and the Province of Alberta, the investment required to make this a reality will be challenged.”
I want all Canadians and committee members to recognize that none of these pipeline companies and none of these producers are asking for subsidies. What they are asking for is legislative and regulatory reform that is competitive, attractive, certain and fair. Every kind of energy developer needs this because all investors in every sector need that sort of reality.
The government should take note when, in a very unusual move, Canadian CEOs have spoken quite aggressively about what has to be done. This is normal in the United States, but it's quite abnormal for Canadian CEOs to speak out in the way that they have.
To make clear to Canadians why this is not pre-emptive and why every member of this committee should support this motion, it's because as far back as March 9 and March 19, 2025, CEOs of Canadian companies across Canada's resource sector, 14 of them, sent a letter. In April 2025, 38 followed up. Then, on September 15, 2025, 97 CEOs from all kinds of energy companies of all kinds of sizes across the sector sent a letter.
What main things did they call for? They asked for exactly the legislative and regulatory reform that the Liberals say is coming. The Liberals also promised two-year timelines for approvals, and they rejected what I tried to put in the law. We're advancing into two years of the Prime Minister's being in power, and he has yet to bring forward the legislative and regulatory reform agenda that is clearly being called for by provincial leaders, territorial leaders, industrial representatives, economists and proponents of all kinds.
They want significant simplification of regulations. This includes the repeal or the reform of Bill C-69 and of Bill C-48. They want shortened timelines for project approvals. They want a commitment to grow production, and they want a fiscal framework that attracts investment. As all of us do, they want expanded incentives for indigenous investment opportunities.
These, colleagues, are the reasons that all of us here as members of Parliament and Canadians everywhere should be seized by this motion.
I hope you'll consider supporting it. On behalf of all Canadians, I would say we agree that Canada is in a crisis and that this crisis was preventable. The reason that Canada is in a vulnerable and isolated position, playing catch-up now, is the antidevelopment laws and policies that have been inflated domestically. That's why I hope that every member of this committee will support this motion.
We will all work in partnership, as we have committed to do, with the federal government to ensure construction so that the pipeline to the Pacific can get built. Conservatives support the construction of pipelines in all directions for Canada, for the benefit of all Canadians, without carbon taxes and without billions in corporate welfare that isn't needed.
Thank you, Chair.