Mr. Speaker, the time has come for the Minister of Finance to examine subsidies to greenhouse gas producing industries.
Existing tax subsidies to the oil sands industry could total hundreds of millions of dollars over time. This industry is a significant contributor to greenhouse gases.
Instead of tax subsidies we need a national atmospheric fund to help conserve energy, to level the playing field for renewable energy and to introduce new forms of energy innovation.
Canada is now committed to the Kyoto agreement and must address the issue of perverse subsidies favouring the production of greenhouse gases which impact on the climate.