Mr. Speaker, let us review some of the fine requirements under this bill.
The maximum fine for an individual under these new punishments would be $1 million. This amount is a real sacrifice for an individual, not to mention the threat of jail time. Corporations can see offences of no more than $10 million, even on continual offences. The financial sum is beyond harsh for an individual, but very weak for corporations.
For example, ExxonMobil made an estimated $477 million in 2008. A punishment of $10 million is not much more than the cost of doing business for such a corporation. ExxonMobil was forced to settle for approximately 75% of the $507.5 million in damages it faced for the Exxon Valdez tanker spill, off the coast of Alaska. This amount of fine is something suitable for a massive corporation.
We have to look at the impact as well. Let us not forget about the impact on our wildlife and the length of time it takes to clean up a spill. It is going to be very important when these fines are levied that the money be reinvested in exactly what the fine was levied for. Basically, it needs to be reinvested into the environment.