Mr. Speaker, I am pleased to answer my honourable colleague's question.
Earlier, we finally spoke of refinery capacity in Canada. In my speech, I never said that refinery capacity in Canada had decreased. On the contrary, since 1990 it has risen by 23%. Refineries in Montreal and elsewhere in Canada have been modernized and thus the supply of refinery products is greater than in the 1990s. This can affect price at the pump.
There is a great deal of talk about taxing oil companies so that the price at the pump is as low as possible. You will see that there is no relationship between a tax on oil company profits and the price of gas at the pump.
However, there is a clear relationship between the world price of crude oil and the price of gas at the pump. The January 2006 study by the Cato Institute, covering the period between January 1984 and January 2005, clearly showed the obvious relationship between world crude oil prices and pump prices. The study concluded that 85% of changes in gas prices can be attributed to the world crude oil price. This shows us that the market is competitive.
What is rather more surprising is the Bloc Québécois assertion that the true solution may be to control or regulate prices. My colleague knows quite well that setting gas prices falls within provincial jurisdiction.