Mr. Speaker, I suppose we agree that the bill is flawed, but I want to correct a few things.
There were at least two opposition amendments accepted. I still cannot vote for Bill C-69, but I want to make sure that people know that, on the recommendation of Professor Martin Olszynski, who was referenced in my friend's speech, we amended proposed subsection 6(3) to say, “The Government...must, in the administration of this Act, exercise their powers in a manner that adheres to the principles of scientific integrity, honesty, objectivity, thoroughness and accuracy.”
I would rather see more about science in the bill. I would rather see less ministerial discretion. However, this debate, repeatedly, for weeks now, has singled out large oil companies leaving Alberta, as if the only reason these large oil companies have left has something to do with pipelines. The reality is global.
Globally, to give some context, investment in fossil fuels is shrinking. Globally, investment in renewables is growing like Topsy. In fact, in 2017, solar investment alone eclipsed investment in coal, nuclear, and all the renewables. The price of solar has been plummeting. Globally, greenhouse gases fell last year in the U.S., Russia, Brazil, China, throughout the EU, and, of course, in the U.K. They dropped infinitesimally in Canada. It was a 1.4% drop.
We are part of a global transition right now, which is why large companies like Statoil, from Norway, Royal Dutch Shell, France's Total, and ConocoPhillips, when they left the oil sands, said that they were leaving because they did not want stranded assets. In the words of Mark Carney, current president of the Bank of England, they did not want “unburnable carbon”, because there are assets in oil and gas that will be left in the ground, which represent a financial liability.