Mr. Speaker, I thank my colleague from Yukon for raising some very important issues in the context of this legislation. There are several, but I will pick up on one of the latter issues, and that is all of that which is resident under the permafrost is under the ice.
My colleague from Yukon has mentioned on several occasions, with respect to this bill and Bill C-3, that it is important to protect the environment and the interests of the aboriginal communities there. I note people in the audience are following this debate attentively. They picked up on that issue as well.
My colleague from Yukon knows very well that one of the issues we attempted to raise with Bill C-7 was that vessels would potentially go through the Northwest Passage. He made reference to the fact that potentially a great number of scientists and geophysicists would look at the latent, vast deposits of petroleum resident in that part of Canada.
For example, the 2008 U.S. geological survey found that 13% of all the untapped, undiscovered petroleum deposits were resident in Canada's Nordic lands under the ice sheets. Further, it found that 30% of the natural gas deposits worldwide were resident off the shore of Yukon and northwest of Nunavut. Indeed, 20% of all liquefied natural gas products were resident in that same place. When we have an environmental accident, where vessels that are not prepared to assume their responsibility travel through these waters, the potential for environmental disaster is huge.
My colleague from Yukon mentioned a moment ago that all such vessels travelling in this area ought to carry a liability of some $2 billion. The bill does not go that far. Could the member elaborate on the relationship between the liability that must be carried by these commercial operators and the environmental requirements of not only the north but all of Canada?