Mr. Speaker, I would like to thank the member for Skeena—Bulkley Valley who is also my colleague on the environment committee for his questions.
I would like to comment on the $13 billion surplus. This government decided that we were going to pay down the debt because that was the promise we made. It was a good decision. It does not make everybody happy, but it was the right thing to do. We are going to be saving $650 million a year in interest that we would have had to pay, which saves a lot of money for hard-working Canadians.
Regarding the oil sands, our government recognizes that the oil sands are important to Canadians and the Canadian economy. This government also recognizes that any development in that area must take into consideration the environmental impacts. Our government is committed to providing real practical long term solutions to cleaning up our air and reducing greenhouse gas emissions.
This week we will be introducing the clean air act. It will cover all industrial sectors, including the oil industry. These efforts will directly reduce air pollution and greenhouse gases. A national long term regulatory strategy will give industry, the provinces, and the Canadian people, certainty and confidence.
It will also provide flexibility and the opportunity to achieve real improvements to air quality, improve the health of Canadians, and reduce emissions of greenhouse gases that cause climate change. Our government is working with the provinces and territories, the oil industry, first nations, environmental groups and other interested parties on this issue. Together we will find ways of reducing emissions.
Currently, this government is working with the Government of Alberta during its public consultation examining the environmental, economic, and social impacts of the oil sands to develop a vision and principles for oil sands development.
In addition, this government continues to be actively involved in the review of the environmental impact assessments for the oil sands development and the regional initiative dealing with the cumulative environmental assessments.