Mr. Speaker, I thank the hon. member from Pickering for a very interesting speech. It is clear that he is very knowledgeable on the subject.
I think he will agree with me on one thing. The thing that really irritates Canadians and really gets their goat and makes them angry about the rising cost of fuel prices is the seemingly arbitrary fluctuation in prices which they just cannot understand. For instance on a long weekend as he mentioned the price will spike up and down. Day to day they really do not know what the price of that important commodity is going to be.
Would the hon. member agree with the concept raised by our party that there should be a national regulatory body that would oversee the pricing of gasoline? The oil companies would come to that body and argue that they should have an increase, perhaps twice a year, like that which is done in Prince Edward Island which has actually served that province very well. Twice a year the oil companies come to a panel saying that they deserve an increase. The rates are set and locked for that fixed period of time.
Would that not be some comfort to consumers? Would he see the value in the creation of such a regulatory body?