Mr. Speaker, as the member knows, Canada is focused on expanding our energy export markets so we can benefit from the world price of oil. Due to the difference between Canadian and world prices for oil, Canadian oil producers lost over $13 billion in revenue in 2012. That differential also meant lower revenue for governments that could have gone into housing and hospitals, health care and other vital infrastructure.
The solution, of course, is to expand Canada's energy infrastructure, including through the construction of pipelines: pipelines to relieve the bottlenecks in the U.S. that cause those price differentials; pipelines to bring oil from western Canada to eastern Canada; and pipelines to deliver our energy to tidewater where it can reach new markets abroad.
Our government's responsible resource development plan is aimed squarely at addressing these issues, developing Canada's resources, creating jobs and growing our economy. Global energy demand is expected to increase by 37% from 2012 to 2040, and Canada is well positioned to support that demand. However, without the infrastructure to move the product to offshore markets, our oil will be stranded in North America.
Getting access to these markets means building new infrastructure. Through the plan for responsible resource development, the Government of Canada is taking key steps to diversify Canada's energy export markets east and west, while improving the efficiency of regulatory processes, strengthening environmental protection and aboriginal engagement and participation in resource development.
Every day, energy products travel safely through 72,000 kilometres of federally regulated pipelines. In fact, our world-class safety system boasts a safety record of 99.999%. However, we will not be satisfied until that number is 100%, which is why we have put forward new legislation to strengthen our safety system in areas of prevention, preparedness and response, and liability and compensation.
This government understands the importance of developing our pipeline capacity in Canada for Canadians. We want to see our producers get a competitive price for their product and have a safe means of transporting it to markets, both here in North America and around the world.
While we continue to monitor closely the recent decline in oil prices, we are also keeping our eye on the bigger picture and the longer view. We have been clear that projects will only be approved if they are proven safe for Canadians and for the environment. I look forward to the member's support for our pipeline safety legislation.