Mr. Speaker, it is time for a reality check. I was listening to the minister who spoke just now. The minister said that the price of a barrel of oil had doubled. One need not be a genius to figure that out. The fact that a barrel of oil has doubled in price is one thing, but I have some numbers here that people find really frustrating.
Take Petro-Canada, for example. During the first quarter of 2006, the company made $206 million in profits. During the first quarter of 2007—a year after the Conservatives came to power, it just so happens—the company's profits grew from $206 million to $510 million. During the first quarter of 2008, it made $1.1 billion.
The truth is that profits have been doubling since the Conservatives have been in power. When we left office, the price of gas was about 85¢ per litre. Now, it is $1.40 or more.
Can the member explain why he keeps defending big oil companies? The price of a barrel of oil keeps doubling, but so do big oil companies' profits. That is unacceptable. Why do they keep defending the oil companies by saying that rising prices are caused by the market, that it is what it is, and that there is nothing more to be said?