Mr. Speaker, we have put in place what we think is belt and suspenders, in the way of being able to compensate. The railways are asked to carry a level of insurance based on the types of products they carry and the amount of business they do.
The second phase of that is a compensation fund that is available for the much larger accidents that would not be covered by insurance or might not be able to be covered by insurance, even though we have ensured that the railways carry that insurance.
The fund is created by $1.65 per tonne of oil, in this case oil carried. It is paid as the shipping happens so the fund is robust, is always complete, and it has money there. Over time, it will be able to handle any sort of accident that may happen, although we hope the fund is never used. All Canadians would hope that is the case.
As we continue to move dangerous products, like oil, by train, there is the opportunity that it might happen. Beyond the insurance of the companies involved, this will create a greater fund for those much larger and perhaps more dangerous situations.