Mr. Speaker, it is going to sound like we have a lovefest at the industry committee, but I think it is fair to say that we have a great rapport. I have a high regard for the member opposite as well. Again, he makes a great contribution to the industry committee.
My answer to the hon. member would be that this specific bill deals with a specific problem. The legislation itself will narrow in on that problem.
He raised the issue with respect to increasing competition. That is a very fair question. It goes to the very heart of what will determine prices. If we do not have enough competition, there exists the possibility of corporations taking advantage of that in prices. He is absolutely right.
In a number of the studies that we have done in the industry committee, we have looked at what is going on in the oil industry. It is very expensive. What seems to have happened in the oil industry is that the number of refineries has been reduced. That is to combat the enormous costs that take place when we refine oil. Today there are fewer refineries in Canada than there were perhaps 20 years ago.
Very near my riding Shell Oil was looking at the possibility of beginning a refinery. That did not happen. I think it spent $10 million just on doing the studies but it has retracted from that.
I would share my feelings with the hon. member. I think we need more competition. We need to encourage oil companies. One of the things we need in this country is another refinery. It would help tremendously with respect to the price of oil.
Perhaps at a future date we could look at that possibility and take that up as a study in the industry committee and produce another fine report from which we could all benefit.