Madam Speaker, I thank the hon. member for Calgary Centre for allowing me to speak to this important issue.
I will begin by reminding the House that our government has always supported Canada's energy industry and that it will continue to support the industry, its workers and the communities that benefit from it. We are doing that while making health, safety and environmental protection the top priority in every aspect of the energy industry, and while respecting indigenous rights and promoting reconciliation.
Every Canadian can be proud of that, especially with the current challenges, including a global drop in the price of oil and the economic repercussions of a once-in-a-century pandemic.
In that context, the government has taken measures to support the industry in several ways.
In the spring, as part of a suite of business support measures, the government launched the business credit availability program. This initiative meets the immediate cash flow needs of businesses in Alberta and across Canada. We also brought in the Canada emergency wage subsidy to help employers affected by COVID-19 rehire their employees and to prevent further job losses.
The government has also provided nearly $2.8 billion to support Canada's energy industry. This includes $750 million for the new emissions reduction fund, as well as a $1.7-billion investment for the remediation of inactive and abandoned wells.
In addition, our government has announced $320 million in federal support for Newfoundland and Labrador offshore industry and workers.
Taken together, our government has brought forward a comprehensive set of supports. All of this in addition to our government's proven track record of approval of and support for major oil and gas projects, including TMX, LNG Canada, the Nova Gas expansion and Line 3 extension, which we know will create thousands of jobs and drive billions in investments, and complement our initiatives to reach our Paris climate commitments.
We also vigorously supported the KXL project at the highest levels. Like our government of Alberta partners, with whom we worked closely, we were disappointed in the President's decision. We have been clear that we will help the affected Canadian workers. However, we must also focus on our relationship with Canada's number one energy customer in areas of mutual Canada-U.S. interest, such as firm climate action, enhanced North American energy security and co-operation to rebuild our economies.
Canada's energy sector will be a big part of the North American recovery. It is a source of good, well-paying jobs in Canada, and our government will continue to stand with the sector and the thousands of hard-working Canadians it employs.