Mr. Speaker, Newfoundland and Labrador's minister in the cabinet says that he cannot obtain changes in the equalization program that would allow the province to keep its offshore oil revenues.
However, the minister indicates that he can help the province in project specific ways. Given that the federal government is selling its shares in Petro-Canada, now is the time for the minister to make good on his commitment to have the 8.5% federal share in Hibernia dealt with and turned over to the province.
The Atlantic accord promises to make Newfoundland and Labrador the primary beneficiary of its offshore oil revenues. This has not happened, and I look forward to hearing how the minister intends to achieve that goal.
In the meantime, dealing with the 8.5% share of Hibernia would be a good start. We are still waiting for Newfoundland and Labrador's minister to deliver on his promises. He must deliver before, not after, the federal election.