Mr. Speaker, I appreciate the opportunity to highlight the strategic importance of the National Energy Board. As members know, the National Energy Board is an independent federal regulator overseeing Canada's energy industry. Ensuring the safety of Canadians and protecting the environment are its top priorities.
For over 50 years, the National Energy Board has regulated all aspects of Canada's energy industry in the Canadian public interest, including trade pipelines and energy development. What many Canadians may not know is that the NEB's funding is cost recovered from the energy industry. This is an important fact because it means that taxpayers are not on the hook for these expenses.
Allow me, then, to talk for a few moments about what the NEB is responsible for and how it ensures the safety of Canada's energy infrastructure.
The National Energy Board regulates approximately 73,000 kilometres of pipelines, which carry over 105 billion dollars' worth of energy products annually to Canadians and to export customers, mainly in the U.S. We know that pipelines are a safe and economic means of transporting large quantities of natural gas and crude oil over long distances and our government has been clear that projects will only be approved if they are proven safe for Canadians and safe for the environment. That is why it is so important to have a strong and robust regulatory review board, and the results are promising. Canada's pipeline safety record is near perfect.
Between 2008 and 2012, over 99.999% of crude oil transported by federally regulated pipelines was transported safely, without incident. That is a very impressive number.
Today, our oil and gas industry is facing a period of tremendous opportunity. Right now, hundreds of major resource projects worth more than $675 billion are currently planned or under way. Few countries in the world are bringing on natural resource projects of this scale or at this pace, creating a truly once-in-a-generation opportunity. Therefore, this is a critical time for the National Energy Board with many important and high-profile activities under way across the country.
The National Energy Board's move took place in June with no disruption of services. The move allows the NEB to meet new Government of Canada Workplace 2.0 Fit-up Standards. As I mentioned already, the appropriations for the move were cost recovered from industry.
Our government will continue to ensure that the National Energy Board has the tools it needs to ensure that energy infrastructure in Canada is safe and well regulated.