Mr. Speaker, last month I warned the industry minister that rising gas prices would hike inflation, increase interest rates and throw the economy into a tailspin. He laughed it off then but now no one is laughing.
Not only do we hear reports of $30 per barrel crude oil and 80 cent per litre gasoline by Christmas, but today we have an admission that the Competition Act is defective.
I ask the minister again, is he prepared to act on the competition problems in the gasoline retailing industry, or is he proud, as the Minister of Finance says, to see gas prices at record levels?