Mr. Speaker, I am seeking leave for the adjournment of the House for the purpose of discussing an important matter requiring urgent consideration pursuant to Standing Order 52.
On Sunday, April 8, Kinder Morgan Canada Limited announced that it would not proceed with the construction of the federally-approved $7.4 billion Trans Mountain pipeline expansion after May 31, without explicit agreement that there would be no further legal challenges and no further disputes or obstacles by provincial and municipal governments.
Both the federal government and the official opposition agree that the Trans Mountain expansion is in the national interest. In response to Kinder Morgan's announcement, the federal government called an emergency cabinet meeting. An emergency meeting was held between the finance minister and the Premier of Alberta on Wednesday, April 11, and the Prime Minister returned from an international trip to meet with the Premiers of Alberta and British Columbia on Sunday, April 15.
The threats of punitive economic measures between provincial governments have escalated significantly, including announcements of intent to restrict energy supply between three provinces. Representatives of the Canadian Energy Pipeline Association, CEOs of major Canadian banks, and investment management portfolios warn that this situation is a crisis and that the impacts extend well beyond the pipeline itself to confidence in Canada overall.
Billions of dollars of investment in the Canadian economy, billions of dollars in future government revenues for social programs and services, tens of thousands of energy jobs and hundreds of thousands more in other sectors, $400 million in equity partnerships with 43 indigenous communities, market access for Canadian oil, and national unity are all at risk.
I trust you will agree, Mr. Speaker, that this is an emergency and will grant leave for the adjournment of the House to discuss this important matter that clearly requires urgent consideration.