Mr. Speaker, despite the Prime Minister's rhetoric on Arctic sovereignty, the Conservative government has done little to protect Canada's northern resources from foreign interests.
The largest offshore exploration leaseholder in the Beaufort Sea is a small two-person British company called Franklin Petroleum. Under the current rules, these leases could be transferred to anyone, to any country, at any time, without the involvement of Canada in approving the transfer.
Why has the Prime Minister not closed this loophole?