Mr. Speaker, Canadian oil is the most highly regulated oil in the world. Our oil is subject to the largest number of regulations regarding the environment, transportation safety, taxation, consumption, royalties, and so forth.
Would the founding nations consider it normal today for hundreds of huge oil tankers to cross the Atlantic ocean and come to this country when scientists are telling us that we have the third largest oil reserve in the world? The carbon capture technology for the oil sands is getting better by the day.
We need to improve our environmental practices, I think that goes without saying. However, once again, how can we justify telling our grandchildren that we do not want to share in the wealth created over the next 40 years by the China's and India's incredible consumption of oil? Those countries are not going to stop purely for environmental reasons. They are going to consume oil. They are in a full-blown industrial revolution and it is their right to do so. We could sell up to $1 trillion in oil to build hospitals and an education system that are efficient.