Madam Speaker, recent news reports about the Conservative government's plans to sell off its share of the Norman Wells oil field as a way of balancing the books have my constituents greatly concerned.
In September 1988 Canada signed an enabling agreement with the Government of the Northwest Territories that all oil and gas resource revenues from the onshore NWT, except those committed to aboriginal claim settlements, shall be reserved for the NWT.
In 1999 the Federal Court ruled that payments to Canada from the Norman Wells oil field are resource revenues. Based on that decision, any revenues, including those from a sale of the oil field, belong to the NWT. This oil field is being held in trust for the people of the Northwest Territories and should be treated as such.
It is high time the Conservative government recognized its responsibility to its northern territories.