Madam Speaker, our government understands that these are difficult days for the people of Alberta. For thousands of our fellow citizens, the precipitous drop in the price of oil has made these very trying times. Businesses are struggling, jobs are lost, and families are hurting. We have seen this boom and bust cycle before, but it does not make it any easier for those who are struggling. While there is no magic wand, there are things we can do both now and in the long term to weather this storm.
In terms of short-term actions, we are working with the province of Alberta. A few weeks ago, the Prime Minister moved quickly to fast-track infrastructure funding of $700 million. This will ease the immediate hardships and job losses in the energy sector.
In addition, when a region's unemployment rate rises, the entrance requirement for employment insurance is reduced and the duration of benefits increases. In fact, the duration of these benefits has increased in all four economic regions in Alberta.
The number of weeks available in hard-hit regions in Alberta has increased by 5 to the maximum entitlement nationally of 45 weeks. We have also put in place an interim approach for major resource projects already under regulatory review. We have committed to modernizing the National Energy Board.
We know that the sooner we restore public confidence in the regulatory process, the sooner we will see broad-based support for large-scale, sustainable energy products that will get our resources to market. Indeed, our government believes there is every reason for Canadians to be optimistic about the long-term future of our energy sector.
Also, there is every reason to believe we can achieve a brighter future based on a clean environment and a strong economy going hand in hand: a future built on innovation and adapting to changing times; a future utilizing greener ways to extract and develop our fossil fuels; a future with more sustainable ways to get our energy to markets at home and abroad; a future that makes greater use of renewable sources of energy; a future where energy efficiency plays a more prominent role; a future where we invest in clean technologies and green infrastructure; and, in short, a future where we engage Canadians on how to generate the energy we need while preserving the planet we cherish.
Our government is committed to doing both. Through the federation, we can engage in nation building by creating a visionary energy strategy that enables Canada to lead in the fight against climate change and truly position us as a global leader in a low-carbon economy.